Baker Hughes Rig Count: Oil +4 at 411, Natgas -2 at 132, Total +1 at 551
The increase of four oil rigs and a decline of two natural gas rigs suggests a slight uptick in exploration activity for oil, which may support prices amid ongoing demand concerns.
Senior US admin official says there is "no specific timeline" for launching naval escort operations in the Strait of Hormuz, but efforts underway to set conditions for the operations ASAP
US agency to create USD 20bln reinsurance facility for Gulf shipping, via FT; facility to restart martitime cargo
Baker Hughes Rig Count: Oil +4 at 411, Natgas -2 at 132, Total +1 at 551
Iraqi security sources say a rocket attack targets a military base housing US Diplomatic center near Baghdad international airport
Iran Deputy Foreign Minister says the EU is a "legitimate" target if it joins the war, according to France 24
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The total rig count remains modest, which could indicate a continued cautious stance in the market, especially given the sensitivity of oil prices to supply changes and geopolitical factors.
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