The futures were trading up 2.3 cents, $3.32 last.
From Oilk & Gas Journal:
The US drilling rig count fell 11 units during the week ended Sept. 28, with the total number of rotary rigs in the US reaching 1,848, reported Baker Hughes Inc. This compares with 1,990 rigs working in the comparable week last year.We're putting together a pretty big post on the outlook for the heating season, more next week.
Land rigs fell 6 units to 1,781. Rigs drilling in inland waters dropped 2 units to 17 rigs. There were 50 rigs drilling offshore, 3 fewer than a week ago. Of these rigs, 48 were drilling in the Gulf of Mexico, 2 fewer than reported last week.
Of the recent week’s total, rigs drilling for oil reached 1,410, an increase of 8 units from a week ago. Rigs targeting gas fell 19 units from last week to reach 435 rigs. Three active rotaries were unclassified, unchanged from a week ago....MORE