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Despite occasional drops, WTI oil futures remained squeezed within the 78.00-80.00 area and between two ascending lines for the second consecutive week. The bulls have been held back around 79.68 by the 38.2% Fibonacci retracement of the December-April uptrend, while the 200-day exponential moving average (EMA) has been restrictive too. Thus, in spite of ...
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The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total rig count rose by 1 to 604 this week, compared to 720 rigs this same time last year. The number of oil rigs rose by 1 this week, after falling by 3 in the week prior. Oil rigs now stand at ...