There is the Strait of Hormuz and then there is domestic production. In the current week, the Baker Hughes rig count fell -3 at 545.
Looking at the pieces:
- Oil rigs aree unchanged at 411
- Natural Gas is down -3 at 127.
- Total rigs -3 at 545.
Crude oil is is trading up $0.57 at $98.45
Baker Hughes rig count -3 at 545
