U.S. Baker Hughes Oil Rig Count -6 From Last Week To 546; Gas Rig Count +0 From Last Week Unchanged At 130
Portfolio Pulse from Benzinga Newsdesk
The U.S. Baker Hughes oil rig count decreased by 6 from last week to 546, while the gas rig count remained unchanged at 130.
June 23, 2023 | 5:03 pm
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NEUTRAL IMPACT
The decrease in oil rig count may have a minor impact on SPY as it reflects changes in the energy sector.
The decrease in oil rig count indicates a potential slowdown in the energy sector, which may have a minor impact on the overall market and SPY. However, the gas rig count remains unchanged, suggesting a neutral impact.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The unchanged gas rig count suggests a neutral short-term impact on UNG.
The gas rig count remaining unchanged suggests that there is no significant change in the gas industry, leading to a neutral short-term impact on UNG.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 80
NEGATIVE IMPACT
The decrease in oil rig count may have a negative short-term impact on USO.
The decrease in oil rig count indicates a potential slowdown in the oil industry, which may have a negative short-term impact on USO.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80