U.S. Rig Count Falls for Second Week as Crude Rally Diverges from Gas Weakness

U.S. drillers reduced active oil and gas rigs for a second consecutive week, with Baker Hughes reporting a nine-rig drop to 543, signaling a potential moderation in future supply growth. The pullback in activity arrives after a sharp rally in Oil – US Crude and follows a period of tight market sentiment driven by geopolitical and inventory factors.

Over the past month, Oil – US Crude has climbed about 39.6%, and its 1-day technical reading points to a Strong Buy, reflecting strong upward momentum despite the rig decline. In contrast, Natural Gas is down roughly 1.5% over the same period, with a 1-day technical signal of Sell, suggesting continued pressure amid ample inventories and subdued demand. Investors can explore more updates, prices, and analysis across global markets at Commodities.