U.S. Baker Hughes Gas Rig Count +0 From Last Week To 137; Oil Rig Count -15 From Last Week To 555
Portfolio Pulse from Happy Mohamed
The U.S. Baker Hughes gas rig count remained unchanged at 137, while the oil rig count decreased by 15 to 555 from last week.
June 02, 2023 | 5:06 pm
News sentiment analysis
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NEUTRAL IMPACT
The unchanged gas rig count and decreased oil rig count may have a neutral impact on SPY.
The rig count data may not have a direct impact on the overall market, but it can influence the energy sector, which is a component of SPY. The unchanged gas rig count and decreased oil rig count may balance each other out, resulting in a neutral impact on SPY.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The unchanged gas rig count may have a neutral impact on UNG.
The unchanged gas rig count indicates that there is no significant change in the gas production landscape, which may not have a direct impact on UNG's price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75
POSITIVE IMPACT
The decreased oil rig count may have a positive impact on USO.
The decreased oil rig count indicates a potential reduction in oil production, which may lead to higher oil prices. This could have a positive impact on USO in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75