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What to Watch: WTI Option Expiry, Rig Counts and COT

  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count last week edged up to 513 after a drop of over 100 so far this year. The gas rig count was last week down to a new low for the year of 113.
  • 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 rose to a six month high last week although diesel and gasoline positions dipped on the week.
  • The October23 WTI options expire against the 19:30BST futures close price today with significant open positions just below the current market price at the 90$/bbl strike price.

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