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What to Watch: US Payrolls, Rig Counts & COT

ENERGY
  • US nonfarm payrolls are due for release at 08:30 ET. Payrolls are forecast to rise by 180k with the unemployment rate stable at 3.9%.
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count last week remained stable at 496 while the gas rig count edged back up to 100 after the trend lower 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 last week raised net long crude positions ahead of the OPEC+ meeting. ICE Gasoil net long fund positioning dipped slightly on the week and Nymex gasoline net long fund positions fell again to the least bullish since October.

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