Baker Hughes Rig Count: Oil +2 at 414, Natgas -2 at 131, Total -1 at 552
The Baker Hughes rig count data shows a slight increase in oil rigs, which could indicate a modest uptick in U.S.
Iran said to stick to hardline position on Strait of Hormuz, according to reports; Iran unwilling to discuss Hormuz while under attack
Brazil new finance minister Durigan will reportedly delay divisive tax plans ahead of election, according to source reports
Baker Hughes Rig Count: Oil +2 at 414, Natgas -2 at 131, Total -1 at 552
US Baker Hughes Oil Rig Count (Mar/20) 414 (Prev. 412)
US Baker Hughes Total Rigs Count (Mar/20) 552 (Prev. 553)
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production capacity. However, the decrease in natural gas rigs highlights a potential contraction in that sector, suggesting mixed signals for overall energy supply dynamics. This information may influence market sentiment around WTI prices as traders assess the balance between supply and demand in the commodities market.
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