Baker Hughes reports biggest weekly rise in U.S. oil-drilling rig count in a month

Baker Hughes BKR, +2.45% on Friday reported that the number of active U.S. rigs drilling for oil was up by eight to 527 this week. That was the biggest one-week gain since the week ended Feb. 11, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 663, according to Baker Hughes. Oil prices continued to rally in Friday dealings, finding continued support from supply concerns in the wake of the Russia -Ukraine war. April West Texas Intermediate crude CLJ22, +2.90% was up $2.66, or 2.5%, at $108.68 a barrel on the New York Mercantile Exchange.

Source: Marketwatch

Murrey Math Lines 12.04.2024 (Brent, S&P 500)

Brent Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has broken the support line, exiting the overbought

Technical Analysis & Forecast 12.04.2024

EURUSD, “Euro vs US Dollar” The EURUSD pair continues developing a consolidation range. By now, a decline wave structure has been completed at 1.0700 alongside

Ichimoku Cloud Analysis 12.04.2024 (EURUSD, XAUUSD, NZDUSD)

EURUSD, “Euro vs US Dollar” EURUSD has secured under the support level. The instrument is going below the Ichimoku Cloud, revealing a downtrend. A test

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