U.S. Rig Count Rises as Producers Respond to Stronger Oil and Gas Prices

U.S. drilling activity increased despite ongoing price volatility, with Baker Hughes data showing the total active rig count rising by five to 551 in the latest week, still 35 below levels a year earlier. Oil-directed rigs edged up by one to 412, leaving the oil fleet 68 rigs lower than a year ago, while gas-focused rigs climbed by five to 130, now 30 higher year over year, signaling a comparatively stronger push in gas drilling. The mixed rig trends suggest producers are cautiously responding to improved pricing in both crude and natural gas, while maintaining capital discipline amid uncertainty over demand, OPEC+ policy, and U.S. supply growth. These dynamics are particularly relevant for futures linked to Oil – US Crude and Natural Gas.

Over the past month, Oil – US Crude has advanced about 13.12%, reflecting tighter balances and renewed risk premiums, and its 1-day technical outlook currently points to a Strong Buy bias, indicating short-term momentum remains skewed to the upside. Natural Gas has gained roughly 21.30% over the last month, a sharper move that underscores sensitivity to weather forecasts and shifting supply expectations; its near-term technical stance is a Buy, suggesting bullish technical conditions but with potential for heightened volatility as rig additions translate into future output. Investors can explore more updates, prices, and analysis across global markets at Commodities.