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Crude Jumps After US Oil Rig Count Collapses By Most In 4 Months

After 6 straight weeks of rig count increases, last week saw a 13 rig drop - the most since May. This leave the rig count at its lowest since July 24th. WTI Crude jumped 60c on the news and is holding gains...

  • *U.S. OIL RIG COUNT DOWN 13 TO 662, BAKER HUGHES SAYS
  • *OIL RIGS IN EAGLE FORD FELL BY FIVE TO 78: BAKER HUGHES
  • *OIL RIGS IN PERMIAN BASIN FELL BY TWO TO 249: BAKER HUGHES
  • *OIL RIGS IN WILLISTON FELL BY ONE TO 72: BAKER HUGHES

The oil rig count is the lowest since July 24th.

 

 

The reaction...