Energy

Rig Counts Inching Back Up (BHI, OIH, DIG, USO, OIL)

This week’s data from Baker Hughes, Inc. (NYSE: BHI) on the weekly rig counts looks better and less mixed than in other weeks despite the notion that all projects should be financially sound at current levels.  On the news, we are watching the key ETF products of the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  The overall figure is up, but barely.  Commodities players are mostly lower today, but more on the consumer data than on anything about rig counts.

U.S. Rig Count is up 21 from last week at 1069; down 902 year over year.

Canadian Rig Count is up 5 from last week at 249; down 194 year over year.

The US Offshore rig count is 35, up 1 from last week; down 30 year over year.

Oil Services HOLDRs (NYSE: OIH) is down 4.4% at $116.67, the Ultra Oil & Gas ProShares (NYSE: DIG) is down 7.7% at $32.89, the United States Oil (NYSE: USO) ETF is down ‘only 3.5% at 39.47and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is down 3.4% at $26.09.  These had very little reaction today to the rig count data.

JON C. OGG

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.