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What to Watch: Rig Count and COT

  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count was unchanged last week at 512 after a drop of over 100 so far this year. The gas rig count was last week down to a new low for the year of 114.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. Crude and diesel managed money net long positions remained relatively unchanged in the data last week with ICE Gasoil net positions holding just below the highest since March 2022.

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