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What to Watch

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count fell again last week to 512 amid concerns for a slowdown in the US shale patch. The gas rig count was last week down to a new low for the year at 115.
  • 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 positions dipped last week easing back from gains seen since late June and ICE Gasoil net long positions also steadied just below the highest since March 2022.
  • US nonfarm payrolls are due to release at 08:30 ET as the markets look for signs of future US Fed policy.

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