WTI Crude Oil futures found slightly higher price action today, trading up to a price of $57.20 after coming off of three consecutive days of heavy selling pressure. During the intraday session, the futures market traded down to a low of $56.15, which is near the 2025 lows, before rallying. The primary driving factor today appeared to be a sentiment shift as early selling pressure in the equity and energy markets was alleviated, helping to move WTI Crude Oil futures higher and stem the heavy selling pressure experienced over the last couple of weeks. On a fundamental side, the latest Baker Hughes rig count showed active oil rigs unchanged week-over-week at 418 active rigs, leveling off a previous uptrend. Gas rigs saw a slight increase of one active rig on a week-over-week basis.
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