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What to Watch: Rig Counts and COT

  • The latest Baker Hughes rig count data is due for release at 13:00ET. The declining US oil rig count has stabilised in September edging up to 515 last week. The gas rig count also regained ground last week up to 121 from a low of 113 the prior week.
  • 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 last week rose to the highest since June 2022 but diesel net long positions however fell with ICE Gasoil the least bullish in seven weeks.

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