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What to Watch: US NFP, 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 502 after stabilising in early September while the gas rig count also fell to 116.
  • 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 edged higher again last week to the highest since March 2022 but ICE Gasoil net long positions drifted down to the least bullish in ten weeks.
  • US nonfarm payrolls are due for release at 08:30 ET as the markets look for signs of future US Fed policy.

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