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Home > WTI Crude Breaks To $43 Handle After Another Rise In Oil Rig Count (To 3 Month Highs)

WTI Crude Breaks To $43 Handle After Another Rise In Oil Rig Count (To 3 Month Highs)

By Tyler Durden
Created 08/07/2015 - 12:09
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 08/07/2015 12:09 -0500



 

Having hovered around the $43/$44 level all morning, new from Baker Hughes that the oil rig count in the US rose 6 to 670 (its highest in over 3 months) has sent it back down to a $43 handle...

  • *U.S. OIL RIG COUNT UP 6 TO 670, BAKER HUGHES SAYS
  • *U.S. TOTAL RIG COUNT UP 10 TO 884 , BAKER HUGHES SAYS

The rig count has now risen for 5 of the last 6 weeks... with Texas, Louisiana, and Kansas seeing the biggest rises...

[3]

 

Pressing crude back below $44..

[4]

 

 

Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-08-07/wti-crude-breaks-43-handle-after-another-rise-oil-rig-count-3-month-highs

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[2] http://www.zerohedge.com/taxonomy_vtn/term/10861
[3] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08/20150806_rig.jpg
[4] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08/20150806_rig1.jpg