Crude oil futures are down on the day

The weekly Baker Hughes rig count will be released at the top of the hour. Last week:

  • Oil rigs came in at 183 
  • Gas rigs came in at 75
  • Total rigs came in at 261

The expectations for this week are for:

  • Oil rigs to fall 2258
  • Gas rigs to fall to 74 

Crude oil futures are trading down $1.31 or -3.3% at $37.40. That is off the low price of $36.63. The high price reached $38.65

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