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US Natural Gas Rigs near a Four-Month Low

Gordon Kristopher
US Natural Gas Rigs near a Four-Month Low

Baker Hughes, a GE company (BHGE), published its US natural gas rig report on July 6, reporting that the rig count was flat at 187 between June 29 and July 6, its lowest level since March 2. The rig count was lower by two (~1.1%) year-over-year. US crude oil and natural gas prices fell 0.5% and 2.3%, respectively, last week, while the VanEck Vectors Oil Services ETF (OIH) fell ~0.42%.