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What to Watch: Rig Counts & COT & WTI Option Expiry

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count last week fell to the lowest since January 2022 at 492 while the gas rig count was down to 98 to extend the declining trend since Feb.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Money managers net long crude positions fell last week with Brent to the least bullish since Sep 2014 after the OPEC+ meeting. Nymex diesel fell to a net short position and gasoline net long fund positions fell to the least bullish since October.
  • The July24 WTI options expire against the 19:30BST futures close price today.

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