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

ENERGY
  • US nonfarm payrolls are due for release at 08:30 ET. Nonfarm payrolls growth is expected at 160k in February per Bloomberg consensus for a mild acceleration from 143k in January.
  • The latest Baker Hughes rig count data is due for release at 13:00ET.  The US oil rig count last week eased back to 486 from the highest since June the prior week. The gas rig count rose to the highest since early January.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30GMT and 15:30ET. Funds last week cut net long crude oil positioning, with WTI falling to the lowest since 2010. Nymex gasoline net long positions were cut to the lowest since early October but funds raised net longs in both ICE Gasoil and Nymex diesel.

 

 

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  • US nonfarm payrolls are due for release at 08:30 ET. Nonfarm payrolls growth is expected at 160k in February per Bloomberg consensus for a mild acceleration from 143k in January.
  • The latest Baker Hughes rig count data is due for release at 13:00ET.  The US oil rig count last week eased back to 486 from the highest since June the prior week. The gas rig count rose to the highest since early January.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30GMT and 15:30ET. Funds last week cut net long crude oil positioning, with WTI falling to the lowest since 2010. Nymex gasoline net long positions were cut to the lowest since early October but funds raised net longs in both ICE Gasoil and Nymex diesel.

 

 

Keep reading...Show less