Crude Jumps Back Above $50 As US Oil Rig Count Declines For 6th Straight Week

By Tyler Durden of Zero Hedge
Friday, October 9, 2015 2:00 PM EDT

Following last week's biggest rig count decline in 5 months, Baker Hughes reports a smaller decline of 9 oil rigs this week to 605 - the lowest since July 2010. WTI Crude was trading just below $50 as the data printed and jumped above it on the rig count drop.

  • *U.S. OIL RIG COUNT DOWN 9 TO 605, BAKER HUGHES SAYS

 

WTI Crude, having slipped off its lows back below $50 ahead of the rig count data, jumpe dback above it...

 

Charts: Bloomberg

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