# SET Index Trading Turned Sloppy, but Long-Term Uptrend May Still be Intact — NMS INVESTMENT RESEARCH

> 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.

- Date: 2017-02-17 · published 2017-02-17T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/72779-set-index-trading-turned-sloppy-but-long-term-uptrend-may-still-be-intact-nms
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A rising rig count and output signal growing US crude supply, which tends to weigh on crude prices and energy-linked feed input costs.

## Read by commodity

- WTI: bearish ▼

## Sources

- nmsresearch.com: http://www.nmsresearch.com/Mobile/SET/2017/FEB-17-17.htm

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