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Baker Hughes reported the US oil rig count rose by 6 to 597, versus 316 at the June 2016 low. US crude output also increased by 16,000 bpd.
A rising rig count and output signal growing US crude supply, which tends to weigh on crude prices and energy-linked feed input costs.
nmsresearch.comFeb 17, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
