Oil , Gas Prices and Rig Count Today
London, August 02, 2024, (Oilandgaspress) ––Brent oil futures expiring in October rose 0.4% to $79.84 a barrel, while West Texas Intermediate crude futures rose 0.4% to $75.71 a barrel by 21:24 ET (01:24 GMT).
Natural gas prices in Europe continued to rise, underscoring growing concerns about fuel supplies amid geopolitical risks, reports Bloomberg.
Benchmark futures rose 2.6% to almost 36 per megawatt-hour (about $400 per thousand cubic meters), which is an elevated level for the summer. Contracts rose for the fourth day in a row as traders find it increasingly difficult to build up the region’s stockpiles before winter.
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $76.01 | Down |
| Crude Oil (Brent) | USD/bbl | $79.21 | Down |
| Bonny Light | USD/bbl | $86.00 | Up |
| Saharan Blend | USD/bbl | $85.61 | — |
| Natural Gas | USD/MMBtu | $2.02 | Down |
| Murban Crude | USD/bbl | $78.26 | Down |
| OPEC basket 01/08/24 | USD/bbl | $80.79 | Up |
Baker Hughes Rig Count: U.S. -3 to 586 Canada +8 to 219
U.S. Rig Count is down 3 from last week to 586 with oil rigs unchanged at 482, gas rigs down 3 to 98 and miscellaneous rigs unchanged at 6.
Canada Rig Count is up 8 from last week to 219, with oil rigs up 6 to 150, gas rigs up 2 to 69.
International Rig Count is down 23 rigs from last month to 934 with land rigs down 24 to 720, offshore rigs up 1 up at 214.
International Rig Count is down 23 rigs to 934
The Worldwide Rig Count for July was 1,713, up 7 from the 1,707 counted in June 2024, and down 106, from the 1,819 counted in July 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 02 August 2024 | 586 | – 3 |
| Canada | 26 July 2024 | 219 | +8 |
| International | July 2024 | 934. | -23 |
