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US rig count falls for 10th straight week: Baker Hughes
03/07/2025
Argaam Exclusive
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The number of oil rigs in the US declined during the week ending July 3, marking the 10th consecutive weekly drop. This signals a potential future decline in US crude supply.
The number of active oil rigs fell by seven to 425 over the past week, data released Thursday by Baker Hughes showed.
In addition, the number of natural gas rigs dropped by one to 108 during the same period.
Baker Hughes released the data a day earlier than usual as the US markets are closed on Friday for the Independence Day holiday.
Oil and gas exploration platforms - USA
| Item | Year Before | Last Week | Current | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| No. of Rig Count | 479 | 432 | 425 | (7) | (54) |
| Gas | 97 | 109 | 108 | (1) | 11 |
| Oil & Gas | 576 | 541 | 533 | (8) | (43) |
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Name
Price
Change (value)Change (%)
Brent Crude Oil
68.23
(0.64)
(0.93 %)
Nymex
66.38
(0.65)
(0.97 %)
Natural Gas
3.39
(0.02)
(0.50 %)
Gold
3,332.74
7.08
0.21 %
Silver
36.85
0.03
0.07 %
High Grade Copper
5.05
(0.09)
(1.76 %)
Iron Ore
96.24
1.11
1.17 %
Aluminum
2,541.50
(29.50)
(1.16 %)
LEAD
2,058.00
(5.00)
(0.24 %)
Zinc
2,725.50
(12.50)
(0.46 %)
Steel
861.00
19.00
2.20 %
Wheat (CBOT)
556.75
(7.20)
(1.28 %)
Corn (CBOT)
437.00
3.40
0.79 %
Coffee (ICEUS)
289.60
(1.60)
(0.55 %)
Whole Milk Powder
5,025.00
87.50
1.74 %
Skim Milk Powder
2,812.50
62.50
2.22 %
Refining margins
12.91
0.13
1.02 %
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