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  • The latest Baker Hughes rig count data is due for release at 13:00ET. The oil rig count data was unchanged in data last week at 525 after the strong decline seen so far this year. The gas rig count was last week down to a new low for the year at 123.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. Crude managed money net long position changes were last week stable, but diesel positioning continued to increase. ICE Gasoil net positions extended the recent gains up to the highest since March 2022 and Nymex diesel the highest since Feb 2022 amid tight global diesel markets.

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