Crude oil futures are trading down $0.16
The Baker Hughes recount will be released at the top of the hour. The expectations are for:
- US total rig counts 325 vs. 323 last week
- oil rig counts 248 vs. 246 last week
- gas rig count 75 vs. 75 last week
The price of WTI crude oil futures are trading at $46.61. That's down $0.16 or -0.36% on the day.
The price of crude oil close of $46.09 a week ago. The low price this week reach $44.95 on Wednesday after the surprise 15 million barrel build in crude oil sent the price down. However yesterday the contract squeezed higher to a high price of $47.74, before the wander down yesterday and into today's trading. The 50% retracement of the week's trading range comes in at $46.35. The low for the day stalled right near that level at $46.34.
