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What to Watch: Rig Count and COT Data

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The oil and gas rig count data continues to trend lower with oil down to 552 last week and gas rigs falling to 130. Oil rigs are forecast to fall to 546 this week according to a Bloomberg survey.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. WTI managed money net long positions last week fell to the lowest in 12 weeks as US economic concerns continue to weigh on prices. ICE Gasoil managed money net positions however increased bringing it just back into a net long position.

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