Baker Hughes Rig Count: Oil -1 at 410, Nat Gas -2 at 125, Total -2 at 543
The latest Baker Hughes rig count shows a slight decline in both oil and natural gas rigs, indicating potentially softer supply growth in the energy sector.
Iran Foreign Ministry Spokesperson says we have not had any discussions about extending the ceasefire so far, via Fars News
IEA Birol says It will take about two years to recover the energy output lost in the Middle East from the conflict there, via Amena Bakr citing an interview with NZZ newspaper
Baker Hughes Rig Count: Oil -1 at 410, Nat Gas -2 at 125, Total -2 at 543
US Baker Hughes Oil Rig Count (Apr/17) 410
US Baker Hughes Total Rigs Count (Apr/17) 543
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The reduction could imply tighter market conditions if this trend continues, influencing oil and gas prices alongside sentiment in related commodities. Traders should watch for shifts in price dynamics as supply constraints emerge.
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