Bakers Hughes oil rigs +7 in the current week

• Oil rigs up 7 to 479
• Gas rigs down -1 to 98
• Total rigs up 6 to 582

The price of crude oil is down $0.56 to $72.18. The price low today reached $71.94 which was the lowest level since January 2. The price is also below the 100 hour MA at $73.19.

For the year, the price is still up 0.70% (price closed 2024 near $71. 72. However, it is down -10.6% from the high reached on January 15 at $80.77.

This article was written by Greg Michalowski at www.forexlive.com.