I’m surprised to see oil rigs dropping despite higher recent oil prices but producers are showing discipline. That certainly adds some downside risks to year-end US production estimates. US gas production has also been dropping fast and that’s a big reason why natty is up almost 6% today.
- Oil rigs 499 vs 506 prior
- Gas rigs 102 vs 105 prior
This article was written by Adam Button at www.forexlive.com.
Related Articles
Trend Continuation Factor and Hurst Exponent Forex Trading Strategy
The Trend Continuation Factor and Hurst Exponent Forex trading strategy is a...
Gold prices dip in face of strengthening US Dollar
Gold's price dropped late in the North American session, but it is...
Mexican Peso surges as traders eye next week’s inflation data
The Mexican Peso (MXN) stages a recovery after weakening to a new...
Forexlive Americas FX news wrap 17 Jan: US Supreme Court affirms decision to shut TikTok.
US stock indice close higher on the day and have positive returns...
Leave a comment