Baker Hughes weekly rig count rises by five to 603
Baker Hughes' weekly total rig count rose to 603, with oil rigs gaining and gas rigs easing. Crude traded at $91.20, down 0.33%.
Baker Hughes' weekly total rig count rose to 603, with oil rigs gaining and gas rigs easing. Crude traded at $91.20, down 0.33%.
JPMorgan says the G7's 100 million barrel oil release largely consists of previously committed barrels, with the main change being a focus on diesel.
The Breakwave Tanker Shipping ETF (BWET) is up 5,157% in 2026, tracking supertanker freight rates that soared after Hormuz disruptions, though risks remain.
Delta shares fell 2.9% after third-quarter earnings missed forecasts on higher fuel costs, but demand outlook remains strong.
The dollar traded mixed, U.S. stock futures pointed higher, and crude oil fell as Iran-related news provided conflicting signals.
Trump said the US would not strike Iran before midterms, lifting the S&P 500 and dragging oil, Treasury yields and the dollar lower.
European equities recovered and bond yields steadied after recent volatility. Gold rose, oil fell as markets took a breather.
Crude oil retreated as Trump ruled out US strikes on Iran, prompting traders to unwind the geopolitical risk premium. Iran's response remains the focus.
An oil price increase can impact airfares, grocery costs, bond yields, and stock markets through inflation and monetary policy.
US stocks open for Columbus Day but bond markets are closed, with thinner liquidity and Iran headlines posing risks.
Citrini Research says weekend oil trading on Hyperliquid during the Iran conflict marks a shift for tokenized assets.
US commanders are ready to launch a three-day campaign against Iran's energy, missile, and command targets within days if President Trump approves.
Crypto liquidations topped $1bn in 24 hours as Bitcoin fell to $80,393 ahead of the 10/10 crash anniversary.
Oil rose about 4% Thursday on Middle East tensions and Gulf storm shut-ins; gains pared after Trump ruled out pre-midterm Iran strike.
Trump denies Iran attack before midterms; oil rebounds. OpenAI revenue miss hits tech stocks. US yields fall.