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