Crude Lifts After Rising Oil Rig Count Trend Ends

After Yellen, Saudi-Yemen, and Fischer headlines roundtripped crude prices for the day, Baker Hughes' oil rig count was unchanged for the week at 406 (ending 8 straight weeks of rises). Crude prices are rising modestly on the news...

  • *U.S. GAS RIG COUNT DOWN 2 TO 81 , BAKER HUGHES SAYS
  • *U.S. OIL RIG COUNT UNCHANGED AT 406 , BAKER HUGHES SAYS

US oil rig count continues to broadly track lagged oil prices but stalled the rise this week...

 

And crude's reaction - after its violent moves already - was a small lift for now...

 

Charts: Bloomberg