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Baker Hughes oil rig count +5 to 482.

July 26, 2024 by admin 0 Comments

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The Baker Hughes rig count for the current week is showing:

Oil rigs +5 to 482
Gas -2 to 101
Total rigs, +3 to 589

The price of crude oil is down $1.28 on the week or -1.63%.

Looking at the daily chart, the price of crude oil remains below the 200-day MA (green line) at $78.66. The high price today reached $78.60 just below that level. Getting above the 200-day moving average would give the buyers some added confidence. Staying below the level keeps the sellers in play and more in control.

This article was originally published by Forexlive.com. Read the original article here.