Following last week’s biggest rig count decline in 5 months, Baker Hughes reports a smaller decline of 9 oil rigs this week to 605 – the lowest since July 2010. WTI Crude was trading just below $50 as the data printed and jumped above it on the rig count drop.
WTI Crude, having slipped off its lows back below $50 ahead of the rig count data, jumpe dback above it…
Charts: Bloomberg
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