The weekly Baker Hughes rig count data shows:

  • Oil rigs +4 to 584
  • Natural gas rigs +3 to to 154 him
  • Total rigs +7 to 740.

The price of crude oil is getting hammered today.

After trading as high as $123.66 on Tuesday, the price has been making lower lows. Today the price for July delivery is down $-7.50 or -6.3% $110.09.

August is down $-7.22 or -6.26% at $108.03.