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ENERGY: What to Watch: US Payrolls, Rig Counts & COT

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  • US nonfarm payrolls are due for release at 08:30 ET. Nonfarm payrolls growth is expected to bounce sharply to 215k in November in a reversal from October to cement expectations of a 25bp FOMC cut in Dec.
  • 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 Dec 2021 but the gas rig count recovered to 100.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Money manager net long Brent crude positions edged slightly lower last week to maintain a similar level as seen throughout November as funds raised net long ICE Gasoil positions to the highest since late July.
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  • US nonfarm payrolls are due for release at 08:30 ET. Nonfarm payrolls growth is expected to bounce sharply to 215k in November in a reversal from October to cement expectations of a 25bp FOMC cut in Dec.
  • 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 Dec 2021 but the gas rig count recovered to 100.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Money manager net long Brent crude positions edged slightly lower last week to maintain a similar level as seen throughout November as funds raised net long ICE Gasoil positions to the highest since late July.