U.S. Rig Count Slips as Crude Holds Range and Natural Gas Extends Decline

U.S. oilfield service provider Baker Hughes reported that American drillers trimmed the combined oil and natural gas rig count by two to 544 in the latest week, marking the first decline in three weeks and signaling a cautious stance on future production growth. The modest pullback in activity comes as price pressures persist in both Oil – US Crude and Natural Gas, with operators closely aligning capital spending and drilling programs to near-term demand and inventory dynamics.

Over the past month, US crude prices have slipped marginally, with Hold signals on the 1-day technical view suggesting a neutral, range-bound setup as the market weighs softer rig activity against global demand uncertainty and macroeconomic risks. Natural gas has faced far steeper pressure, dropping about 20.6% in the last month, and its 1-day technical stance screens as a Sell, reflecting bearish sentiment amid ample storage, mild seasonal demand, and restrained pricing power for producers. Investors can explore more updates, prices, and analysis across global markets at Commodities.