WTI ignores the oil-rig count

Eren Sengezer FXStreet

According to the latest data released by Baker Hughes, the number of active U.S.rigs drilling for oil increased by 14, bringing the total number up to 631 rigs this week. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 21 to 789. Following the data, WTI seems stable with a 0.10% gain on the day at $48.80.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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