The weekly rig count data from Baker Hughes Incorporated (NYSE: BHI) is out, and it seems that the corrective phase in the price of oil is starting to create mixed data in the rig counts. There is always the notion that some changes may be seasonal (particularly in Canada) at this time of year, but we are looking at the key ETFs of Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) on this.
U.S. Rig Count is up 20 from last week at 1161; down 629 year over year.
Canadian Rig Count is down 10 from last week at 354; down 36 year over year.
The US Offshore rig count is 38, up 1 from last week; down 27 year over year.
Oil Services HOLDRs (NYSE: OIH) is down 0.5% at $113.76, the United States Oil (NYSE: USO) ETF is down 0.4% at $35.59 and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) is down 0.35% at $23.42 on this.
At 1:17 PM EST NYMEX WTI Crude is down $0.45 at $70.09 per barrel.
JON C. OGG
DECEMBER 11, 2009
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.