Baker Hughes reports U.S. rig count up 3 to 269 rigs
Baker Hughes (BKR) reports that the U.S. rig count is up 3 from last week to 269. That is down 587 units from the 856 rigs working this time a year ago.
The number of rigs drilling on land was up 3 week-over-week with a total of 254 units. The number of rigs drilling in inland waters was unchanged at 1 unit for the week. The number of rigs drilling offshore was unchanged at 14.
US oil rigs increased by 4 from last week to reach 193 units compared to 712 a year ago. Rigs targeting gas decreased by one unit to reach 73 rigs, 70 fewer than were drilling for gas at this time a year ago.
Brent crude is down $0.52 to $42.82 per barrel. West Texas Intermediate (WTI) crude is down $0.56 to $40.63 per barrel.
Gasoline last traded at $1.20 per gallon down three cents.
To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners.
This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.