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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 oil rig count last week showed a small increase on the week to 501 but is still down over 20% from a peak in November. The rig count was just slightly lower last week at 117.
  • 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 fell last week back to levels seen in August while ICE Gasoil fell to the least bullish in 14 weeks and Nymex gasoline net longs were the least bullish since Nov 2020.

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