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What to Watch: Rig Counts & COT

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count was last week back to 499 reversing gains from March while the gas rig count fell to the lowest since Dec 2021.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Managed money net long crude positions increased slightly last week with a drop in WTI positions offset by a rise in Brent. ICE Gasoil net long fund positioning was the lowest since January while Nymex diesel fell into a net short position for the first time since May 2023.

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