- Oil rigs -15 to 555
- Gas rigs unchanged at 137
- Total rigs -15 to 696
The levels of rigs have continued to trend lower. Looking back toward the beginning of the year, the rig count on January 13 showed:
- Oil rigs: 623. Down 68
- Gas rigs: 150. Down 13
- Total rigs: 775
The price of WTI
WTI
WTI is the short-hand for West Texas Intermediate crude oil. WTI
is a type of petroleum crude oil that serves as a benchmark in oil
pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a
high-quality oil due to its low sulfur content and high yields of
gasoline and diesel fuel when refined. It is used as a benchmark for
pricing other types of crude oil, and the price of WTI crude o
WTI is the short-hand for West Texas Intermediate crude oil. WTI
is a type of petroleum crude oil that serves as a benchmark in oil
pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a
high-quality oil due to its low sulfur content and high yields of
gasoline and diesel fuel when refined. It is used as a benchmark for
pricing other types of crude oil, and the price of WTI crude o
Read this Termcrude oil
Crude Oil
Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk,
Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk,
Read this Term is currently trading up $1.35 at $71.45. The price closed the year at $80.26. So despite the fall in rig count, the price is also lower by -10.9%. It is a supply-and-demand thing. The sluggish growth in China is contributing.
