The weekly oil rig count from Baker Hughes is showing:
- Oil rig +1 at 411
- Gasoline -1 at 123
- Total rigs -1 at 539
The price of oil is trading is trading up $0.10 at $63.98. The price remains below its 100 day moving average at $64.89 keeping bearish bias versus the daily moving averages heading into the weekend.
This article was written by Greg Michalowski at investinglive.com.
