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The weekly Baker Hughes rig count data shows: • Oil rigs vs 511 vs 506 last week • Natural Gas rigs 106 vs 109 last week • Total rigs 619 vs 617 last week. Crude oil is trading up $0.31 at $82.41.U.S. Drilling Activity Inches Up The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data ...
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Geopolitical conflict and the specter of ongoing weakness in the Chinese economy continued to have an outsized impact on commodity prices for most of the quarter. Persistent inflationary pressure and a lack of clarity of U.S. rate policy also swayed investor sentiment. With the exception of Oil & Gas, many resource sectors actually struggled for the first ...