The Baker Hughes rig count for the current week shows:
- Oil rigs rose 1 to 623.
- Gas rigs +2 to 157
- Total rigs +3 to 792
The price of crude oil tumbled to a low of $77.24 but is trading at $78.82 currently The high reached $82.62 today. The price is below the 100 week MA at $80.94. A close below would be the first below the MA going back to December 2020. The price is down -$10.10 on the week.
Crude oil is trading below the 100 week MA
