U.S. drilling activity increased this week as higher prices encouraged operators to bring more rigs online, with Baker Hughes reporting a total rig count of 558, only slightly below year-ago levels. Oil-focused rigs climbed by 10 to 425, while gas-directed rigs slipped by three to 125, a shift that could support future supply growth for Oil – US Crude and Natural Gas if the trend persists.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Over the past month, Oil – US Crude has advanced about 6.38%, reflecting tighter balances and improving demand expectations, while its 1-day technical stance is currently rated as Hold. Natural Gas has gained roughly 10.00% in the same period, supported by changing rig dynamics, and shows a short-term technical reading of Buy. Investors can explore more updates, prices, and analysis across global markets at Commodities.