# WTI Settles $104.12 as Oil Rigs Rise to 462, Baker Hughes...

> WTI settled at $104.12 and Brent's expiring December contract at $117.64 on Friday, both at their highest settlements since late April. US oil rigs rose by two to 462 in the Baker Hughes count, while the total rig count held at 603.

- Date: 2026-10-31 · published 2026-11-01T06:08:45.710Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/4127-wti-settles-104-12-as-oil-rigs-rise-to-462-baker-hughes
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The modest rig increase suggests shale output is responding only slowly to a 15% October rally. Price gains are being driven mainly by Iran escalation risk rather than a fast supply response.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-10-11 | [Oil, gasoline prices set to rise in 2024 as OPEC+ production cuts take their toll: EIA](https://feedsoft.ai/events/33795-oil-gasoline-prices-set-to-rise-in-2024-as-opec-production-cuts-take-their-toll.md) | +0.9% | -9.5% |
| WTI | 2023-11-13 | [Oil settles up 1% as OPEC report dampens demand concerns \| Reuters](https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters.md) | -0.4% | -7.2% |
| WTI | 2021-07-01 | [Oil climbs to highest in over two years as U.S. supplies tighten](https://feedsoft.ai/events/46777-oil-climbs-to-highest-in-over-two-years-as-u-s-supplies-tighten.md) | -0.7% | +0.2% |
| WTI | 2018-02-12 | [Brent Crude, West Texas Intermediate, OPEC Says Oil Demand to Rise - Markets Insider](https://feedsoft.ai/events/66662-brent-crude-west-texas-intermediate-opec-says-oil-demand-to-rise-markets-insider.md) | +4.4% | +3.6% |
| WTI | 2022-06-28 | [US soyabean oil prices rise due to tight supply and surging energy…](https://feedsoft.ai/events/41032-us-soyabean-oil-prices-rise-due-to-tight-supply-and-surging-energy.md) | -9.0% | -12.6% |
| BRENT | 2023-10-11 | [Oil, gasoline prices set to rise in 2024 as OPEC+ production cuts take their toll: EIA](https://feedsoft.ai/events/33795-oil-gasoline-prices-set-to-rise-in-2024-as-opec-production-cuts-take-their-toll.md) | +2.3% | -7.5% |
| BRENT | 2023-11-13 | [Oil settles up 1% as OPEC report dampens demand concerns \| Reuters](https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters.md) | -2.0% | -8.1% |
| BRENT | 2021-07-01 | [Oil climbs to highest in over two years as U.S. supplies tighten](https://feedsoft.ai/events/46777-oil-climbs-to-highest-in-over-two-years-as-u-s-supplies-tighten.md) | -2.8% | -1.5% |

## Sources

- oilauthority.com: https://oilauthority.com/news/wti-104-12-oil-rigs-462-baker-hughes-count-603

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.