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What to Watch: Rig Counts and COT

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 507 after stabilising earlier in September. The gas rig count also eased back last week to 118 after the gains the previous 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 rose last week to the highest since March 2022 although ICE Gasoil net long positions were the least bullish in eight weeks.
  • China PMIs for September are due tomorrow with optimism of a demand boost from the upcoming China Golden Week holiday period.
  • The potential US government shutdown could affect scheduled economic data releases such as the payrolls report next week.

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