U.S. drilling activity was unchanged this week, with Baker Hughes reporting a total rig count of 551, 41 fewer than a year ago, highlighting a restrained supply response despite firmer prices. Oil-directed rigs held at 409, well below year-ago levels, while gas rigs were steady at 133, suggesting that futures benchmarks like Oil – US Crude and Natural Gas may continue to be driven more by demand trends and inventories than by near-term U.S. rig growth.
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Over the past month, Oil – US Crude has gained about 11.8%, reflecting tighter market sentiment, with its 1-day technical stance flashing a Strong Buy signal that points to ongoing bullish momentum in the short term. In contrast, Natural Gas has dropped roughly 23.4% over the same period, and its 1-day technical view stands at Sell, indicating continued downside pressure despite stable gas rig numbers. Investors can explore more updates, prices, and analysis across global markets at Commodities.