The Baker Hughes rig count for the current week shows:

• Oil rigs: 506 vs 511
• Natural gas rigs:105 vs 106.
• Total rigs: 613 vs 619 last week

Crude oil is trading up $0.22 at $83.80.

For the trade week, price of crude oil is up $1.72 or 2.09%.

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