U.S. Baker Hughes Oil Rig Count +2 From Last Week To 515, Gas Rig Count +8 From Last Week To 121
Portfolio Pulse from Benzinga Newsdesk
The U.S. Baker Hughes Oil Rig Count has increased by 2 from last week to 515, while the Gas Rig Count has increased by 8 from last week to 121.
September 15, 2023 | 5:05 pm
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NEUTRAL IMPACT
The increase in the Gas Rig Count may impact the United States Natural Gas Fund (UNG).
The increase in the Gas Rig Count indicates an increase in gas production, which could potentially affect the price of natural gas and therefore the performance of UNG.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The increase in the Oil Rig Count may impact the United States Oil Fund (USO).
The increase in the Oil Rig Count indicates an increase in oil production, which could potentially affect the price of oil and therefore the performance of USO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70