Rig Counts Continue to Rise!

Baker Hughes reports U.S. rig count up 6 to 503 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 6 from last week to 503 with oil rigs up 7 to 401, gas rigs down 1 to 101, and miscellaneous rigs unchanged at 1.

Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count
Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count

The U.S. Rig Count is up 249 rigs from last year’s count of 254, with oil rigs up 221 gas rigs up 30 and miscellaneous rigs down 2 to 1.

The international offshore rig count for April 2018 was 194. Stockwinners

The U.S. Offshore Rig Count is up 4 to 6, down 9 year-over-year.

The Canada Rig Count is down 9 from last week to 143, with oil rigs down 5 to 87, gas rigs down 4 to 56.

The Canada Rig Count is up 91 rigs from last year’s count of 52, with oil rigs up 68, gas rigs up 23.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up $1.61 to $69.75 per barrel. Brent crude is up $1.51 to $72.96 per barrel. Gasoline last traded at $2.15 per gallon up 5.3 cents on the day.

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Rig Counts Rise!

Baker Hughes reports U.S. rig count up 3 to 491 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 3 from last week to 491 with oil rigs up 2 to 387, gas rigs unchanged at 103, and miscellaneous rigs up 1 to 1.

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Rig Counts Rise – See Stockwinners.com Market Radar to read more

The U.S. Rig Count is up 244 rigs from last year’s count of 247, with oil rigs up 211 gas rigs up 34 and miscellaneous rigs down 1.

The U.S. Offshore Rig Count is unchanged at 14, up 2 year-over-year.

The Canada Rig Count is up 3 from last week to 156, with oil rigs up 2 to 95, gas rigs up 1 to 60 and miscellaneous unchanged at 1.

The Canada Rig Count is up 109 rigs from last year’s count of 47, with oil rigs up 82, gas rigs up 26 and miscellaneous unchanged 1.

The international offshore rig count for April 2018 was 194. Stockwinners

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is down 54 cents to $68.55 per barrel. Brent crude is down $0.51 to $70.96 per barrel. Gasoline last traded at $2.28 per gallon down 2 cents on the day and down 10 cents for the week.

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Rig Counts Decline!

Baker Hughes reports U.S. rig count down 3 to 488 rigs

Baker Hughes (BKR) reports the U.S. rig count is down 3 from last week to 488, with oil rigs down 2 to 385, gas rigs down 1 to 103, and miscellaneous rigs unchanged at 0.

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Rig Counts Decline- See Stockwinners.com Market Radar to read more

The U.S. rig count is up 237 rigs from last year’s count of 251, with oil rigs up 205 gas rigs up 34 and miscellaneous rigs down 2.

The U.S. offshore rig count is down 3 to 14, up 2 year-over-year.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up 54 cents to $74.17 per barrel. Brent crude is up $0.51 to $75.61 per barrel. Gasoline last traded at $2.34 per gallon up 2 cents on the day.

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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.

Rig counts continue to rise!

Baker Hughes reports U.S. rig count up 7 to 491 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 7 from last week to 491 with oil rigs up 7 to 387, gas rigs unchanged at 104, and miscellaneous rigs unchanged at 0.

Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count

The U.S. Rig Count is up 240 rigs from last year’s count of 251, with oil rigs up 206 gas rigs up 36 and miscellaneous rigs down 2.

The U.S. Offshore Rig Count is unchanged at 17, up 5 year-over-year.

The international offshore rig count for April 2018 was 194. Stockwinners
The international offshore rig count rise as well

The Canada Rig Count is down 1 from last week to 149, with oil rigs down 1 to 93, gas rigs unchanged at 55 and miscellanous unchanged at 1.

The Canada Rig Count is up 107 rigs from last year’s count of 42, with oil rigs up 83, gas rigs up 23 and miscellaneous rig up 1.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up 4 cents to $71.95 per barrel. Brent crude is up $0.17 to $73.96 per barrel. Gasoline last traded at $2.28 per gallon up a penny.

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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.

Rig Counts Continue to Rise!

Baker Hughes reports U.S. rig count up 2 to 457 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 2 from last week to 457 with oil rigs up 3 to 359, gas rigs down 1 to 98, and miscellaneous rigs unchanged at 0.

U.S. Rig Count is up 156 rigs from last year’s count of 301, with oil rigs up 137 gas rigs up 21 and miscellaneous rigs down 2.

The U.S. Offshore Rig Count is unchanged at 14, up 2 year-over-year.

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Rig Counts Rise – See Stockwinners.com Market Radar to read more

The Canada Rig Count is up 4 from last week to 62, with oil rigs up 3 to 28, gas rigs up 1 to 34.

The Canada Rig Count is up 42 rigs from last year’s count of 20, with oil rigs up 21, gas rigs up 21.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up a penny to $66.86 per barrel. Brent crude is up $0.14 to $69.34 per barrel. Gasoline last traded at $2.17 per gallon up a penny.

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Rig counts rise!

Baker Hughes reports U.S. rig count up 5 to 453 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 5 from last week to 453 with oil rigs up 8 to 352, gas rigs down 3 to 100, and miscellaneous rigs unchanged at 1.

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The U.S. Rig Count is up 114 rigs from last year’s count of 339, with oil rigs up 94 gas rigs up 21 and miscellaneous rigs down 1 to 1.

The U.S. Offshore Rig Count is up 2 to 15, up 3 year-over-year.

Ocean Rig sold for $2.7B, Stockwinners

The Canada Rig Count is up 4 from last week to 59, with oil rigs up 3 to 25, gas rigs up 1 to 34.

The Canada Rig Count is up 36 rigs from last year’s count of 23, with oil rigs up 18, gas rigs up 18.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up $1.45 to $65.26 per barrel. Brent crude is up $1.54 to $68.60 per barrel. Gasoline last traded at $2.12 per gallon up 3 cents.

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Rig Counts Decline!

https://stockwinners.com

Baker Hughes reports U.S. rig count down 1 to 438 rigs

Baker Hughes (BKR) reports that the U.S. rig count is down 1 from last week at 438 with oil rigs down 1 to 343, gas rigs unchanged at 94, and miscellaneous rigs unchanged at 1.

https://stockwinners.com
Rig Counts Decline- See Stockwinners.com Market Radar to read more

The U.S. Rig Count is down 27 rigs from last year’s count of 465, with oil rigs down 35, gas rigs up 9 and miscellaneous rigs down 1.

The U.S. Offshore Rig Count is down 1 to 11, down 6 year-over-year.

The international offshore rig count for April 2018 was 194. Stockwinners
The U.S. Offshore Rig Count is down 1 to 11, down 6 year-over-year.

The Canada Rig Count is down 1 from last week to 55, with oil rigs unchanged at 17, gas rigs down 1 to 38.

The Canada Rig Count is up 29 rigs from last year’s count of 26, with oil rigs up 9, gas rigs up 20.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets.

The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up $0.45 to $61.88 per barrel. Brent crude is up $0.44 to $65.850 per barrel. Gasoline last traded at $1.99 per gallon.

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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.

Fly Leasing sold for $2.36B

Carlyle Aviation to acquire Fly Leasing for $17.05 per share

Fly Leasing (FLY) announced that it has entered into a definitive agreement to be acquired by an affiliate of Carlyle Aviation Partners, the commercial aviation investment and servicing arm within The Carlyle Group’s (CG) $56B Global Credit platform.

Fly Leasing sold for $2.36B

Under the terms of the Merger Agreement, FLY shareholders will receive $17.05 per share in cash, representing a total equity valuation of approximately $520M.

The total enterprise value of the transaction is approximately $2.36B.

FLY’s portfolio of 84 aircraft and seven engines is on lease to 37 airlines in 22 countries.

The per share cash consideration represents a premium of approximately 29% to FLY’s closing price on March 26, 2021 and a 43% premium to the volume-weighted average share price during the last 30 trading days.

The Board of Directors of FLY has approved the Merger Agreement, acting upon the recommendation of a special committee appointed by the Board of Directors and consisting solely of independent and disinterested directors, and has recommended that FLY shareholders vote in favor of the transaction.

The transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions, including applicable regulatory clearance and the approval of FLY’s shareholders.

Given the pending transaction, FLY will not host a first quarter earnings call.

FLY closed at $13.25.

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Rig Count North America at 544!

Baker Hughes reports U.S. rig count up 1 to 403 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 1 from last week at 403 with oil rigs up 1 to 310, gas rigs unchanged at 92, and miscellaneous rigs unchanged at 1.

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U.S. Rig Counts Rise – See Stockwinners.com Market Radar to read more

The U.S. Rig Count is down 390 rigs from last year’s count of 793, with oil rigs down 372, gas rigs down 17 and miscellaneous rigs down 1.

The U.S. Offshore Rig Count is down 3 to 14, down 9 year-over-year.

The international offshore rig count for April 2018 was 194. Stockwinners

The Canada Rig Count is down 22 from last week to 141, with oil rigs down 12 to 80, gas rigs down 10 to 61.

The Canada Rig Count is down 62 rigs from last year’s count of 203, with oil rigs down 54, gas rigs down 8.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets. The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up $2.12 to $66.00 per barrel. Brent crude is up $2.42 to $69.20 per barrel. Gasoline last traded at $2.06 per gallon, up 6 gallons on the day.

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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.

Oil Prices Reach Pre-Pandemic Level

Front-month WTI oil futures rallied over 2% to a 13-month high at $60.95.

A flaring up in the Yemeni civil war boosted crude prices, in addition to reflation-trade positioning, which is being aided by the ongoing tumble in world-wide positive Covid test results (now one third the January peak), alongside optimism about vaccination programs and prospects of big stimulus spending in the U.S. and EU.

Crude oil reaches $61 per barrel

Taking step back, the question is how much higher can oil prices go in a sustained manner.

Crude markets are now well into pre-pandemic ranges, yet global demand is not likely be restored for a considerable time.

OPEC lowers demand forecast

OPEC last week cut its 2021 oil demand projection by about 100 M barrels per day due to more severe than anticipated lockdowns in major economies in the first half of the year.

This forecast still assumes a global economic recovery in the latter half of the year on the back of successful vaccination programs. This puts the focus on supply, leaving aside the impact of a softening dollar, which is only a part of the story and is in any case a partial by-product of the demand for oil and other assets in the global reflation trade.

Higher oil prices justify shale production

The OPEC+ group are limiting quotas, which are being reviewed on a monthly basis.

Saudi Arabia unilaterally complemented this regime with an additional two-month output cut, which took effect this month and which has more than offset rising supply out of Libya and Iran.

Without talking numbers, this supply restraint is evidently proving effective given the oil price rise and the recent corresponding draw downs in global crude inventories.

But, U.S. shale oil production, which is viable again after the surge in oil prices, is rising and will have increasing impact — the rig count is already up 70% since the 2020 lows.

This is something the EIA forecasted in its February oil market report.

Then there is there question of continued OPEC discipline.

Saudi Arabia is unlikely to extend its unilateral supply reduction beyond March, as it won’t want to give up market share.

Discipline among the OPEC+ nations will be a factor going forward, and is more likely to weaken than strengthen.

The Saudi-Russian price war last year illustrated how quickly the dam of quota curtailment can burst, although a repetition of that episode seems highly unlikely.

Overall, market sentiment remains strongly bullish.

JPM in a recent note forecast an “epic systemic short squeeze” will unfold over the next month, and a GS note mooted $150.0 as an upside target.

Analysts are less optimistic, being skeptical of the bullish supply gap hypothesis.

The oil industrial is well positioned, in terms of known and unexploited reserves, to respond to any sustained demand increases, while demand-quelling factors, such as the new trend for working from home, and alternative electrical powered transport is increasingly available.

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Rig Counts Continue to Rise!

Baker Hughes reports U.S. rig count up 5 to 397 rigs

Baker Hughes (BKR) reports that the U.S. rig count is up 5 from last week to 397 with oil rigs up 7 to 306, gas rigs down 2 to 90, and miscellaneous rigs unchanged at 1.

Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count
Rig Counts Rise

The U.S. Rig Count is down 393 rigs from last year’s count of 790, with oil rigs down 372, gas rigs down 20 and miscellaneous rigs down 1.

The U.S. Offshore Rig Count is up 1 to 17, down 6 year-over-year. The Canada Rig Count is up 5 from last week to 176, with oil rigs up 6 to 101, gas rigs down 1 to 75.

The international offshore rig count for April 2018 was 194. Stockwinners
The international offshore rig count for April 2018 was 194.

The Canada Rig Count is down 79 rigs from last year’s count of 255, with oil rigs down 71, gas rigs down 8.

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets. The Company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

West Texas Intermediate (WTI) is up $1.24 to $59.48 per barrel. Brent crude is up $1.34 to $62.50 per barrel. Gasoline last traded at $1.69 per gallon.

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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.

Safe Harbor Marinas sold for $2.1B

Sun Communities to acquire Safe Harbor Marinas for $2.1B

Sun Communities (SUI) announced that it has entered into a definitive merger agreement to acquire Safe Harbor Marinas. Safe Harbor’s full operating team, led by Baxter Underwood, will run Safe Harbor as a subsidiary of the Company independently from Sun’s manufactured home and recreational vehicle community business.

Safe Harbor is the largest and most diversified marina owner and operator in the United States.

It owns and operates 101 marinas, manages five marinas on behalf of third parties and has an approximate 40,000-member network of boat owners across 22 states.

Safe Harbor’s portfolio of high quality, prime coastal market marinas generates recurring rental income from annual and seasonal leases and further diversifies Sun’s geographic and demographic footprint.

Safe Harbor has a proven ability to generate organic and external growth. The acquisition, which is expected to be accretive to 2021 Core FFO per share, will comprise approximately 15% of the Company’s pro forma total annual rental revenue.

Safe Harbor marinas located throughout the Nation

Subject to closing adjustments, the aggregate purchase price for Safe Harbor is approximately $2.11B.

At the closing, the Company will assume debt in the estimated amount of approximately $808M, issue the sellers REIT operating partnership common and preferred OP units in the estimated amount of approximately $130M, and pay the balance of the purchase price in cash.

The mix of consideration will depend on the amount of common and preferred OP units the sellers elect to receive and other factors. The actual amounts of each component of the merger consideration may be materially higher or lower than the foregoing estimates.

The transaction is subject to customary closing conditions and is expected to close in the fourth quarter 2020.

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American Airlines to fire 19,000 employees

American Airlines plans to cut 19,000 jobs if federal aid lapses, cuts to take effect October 1

In a regulatory filing, American Airlines (AAL) said:

“In short, American’s team will have at least 40,000 fewer people working Oct. 1 than we had when we entered this pandemic. We have worked to mitigate as many involuntary reductions as possible through voluntary programs.

Company says it will have 40,000 less employees on October 1

Across the mainline and regional carriers, more than 12,500 of our colleagues have made the difficult decision to leave the company permanently through early out programs or retirement.

Another 11,000 team members have offered to be on a leave of absence in October.

These are important life decisions and we respect and greatly appreciate the sacrifice these team members have made, and continue to make, for American and their fellow team members.

The pandemic has hurt airline the most

Even with those sacrifices, approximately 19,000 of our team members will be involuntarily furloughed or separated from the company on Oct. 1, unless there is an extension of the PSP…

The one possibility of avoiding these involuntary reductions on Oct. 1 is a clean extension of the PSP. Led by your labor unions, with the support of the industry, we have generated enormous bipartisan support for such an extension.

The overwhelming majority of members of both the U.S. House and Senate appreciate that saving jobs in the airline industry through this crisis will mean a quicker economic recovery in the months and years ahead.

And that preserving these essential service jobs will also mean continued commercial air service to all communities, small and large. But, despite this broad bipartisan support, a PSP extension is tied up in a larger COVID-19 relief package, which our elected officials haven’t yet been able to negotiate.

So we must prepare for the possibility that our nation’s leadership will not be able to find a way to further support aviation professionals and the service we provide, especially to smaller communities.”

AAL is down $0.45 to $13.00.

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Rig counts continue to decline

Baker Hughes reports U.S. rig count down 3 to 244 rigs

Baker Hughes (BKR) reports that the U.S. rig count is down 3 from last week at 244 with oil rigs down 4 to 172, gas rigs up 1 to 70, and miscellaneous rigs unchanged at 2.

The U.S. Rig Count is down 691 rigs from last year’s count of 935, with oil rigs down 598, gas rigs down 95, and miscellaneous rigs unchanged at 2.

The international offshore rig count for April 2018 was 194. Stockwinners
The U.S. offshore rig count is down 14 from last year.

The U.S. Offshore Rig Count is up 1 to 13 and down 14 year-over-year.

The Canada Rig Count is up 7 rigs from last week to 54, with oil rigs up 6 to 19, gas rigs up 1 to 35, and miscellaneous rigs unchanged at 0.

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Rig Counts Decline again – See Stockwinners.com Market Radar to read more

The Canada Rig Count is down 88 rigs from last year’s count of 142, with oil rigs down 82, gas rigs down 6 and miscellaneous rigs unchanged at 0.

Brent crude is down 24 cents to $44.71 per barrel. West Texas Intermediate (WTI) crude is down 32 cents to $41.92 per barrel.

Gasoline last traded at $1.23 per gallon unchanged on the day.

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Rig count declined in July

Baker Hughes reports U.S. rig count down 4 to 247 rigs last week

Baker Hughes (BKR) reports the U.S. rig count is down 4 from last week at 247, with oil rigs down 4 to 176, gas rigs unchanged at 69, and miscellaneous rigs unchanged at 2.

The U.S. offshore rig count is unchanged at 12 and down 11 year-over-year.

Oil Rigs, See Stockwinners.com Market Radar to read the latest on oil and rig count
Rig counts continue to decline, Stockwinners

Baker Hughes announced that the Baker Hughes international rig count for July 2020 was 743 down 38 from the 781 counted in June 2020, and down 419 from the 1,162 counted in July 2019.

The international offshore rig count for July 2020 was 183, down 11 from the 194 counted in June 2020, and down 72 from the 255 counted in July 2019.

The international offshore rig count for April 2018 was 194. Stockwinners
The international offshore rig count for April 2018 was 194.

The average U.S. rig count for July 2020 was 255, down 19 from the 274 counted in June 2020, and down 700 from the 955 counted in July 2019.

The average Canadian rig count for July 2020 was 32, up 14 from the 18 counted in June 2020, and down 89 from the 121 counted in July 2019.

The worldwide rig count for July 2020 was 1,030, down 43 from the 1,073 counted in June 2020, and down 1,208 from the 2,238 counted in July 2019.

Brent crude is down 68 cents to $44.41 per barrel. West Texas Intermediate (WTI) crude is down 75 cents to $41.23 per barrel.

Gasoline last traded at $1.21 per gallon down 2 cents.

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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.