The Rig Count That Defied $70: BHI's Week-Close Signal for US Upstream
WTI closed at $69.91. Baker Hughes reported 573 rigs — up 10 week-over-week. The rig count is rising as price breaks $70. Here's what that signal means.
CIR Research Desk
Week Closes Below $70: WTI's New Floor Test and Devon's Balance Sheet Move
WTI broke below $70 at this morning's open. Devon completed its Coterra note exchange. Baker Hughes rig count due at 1pm CT. The week's setup for US upstream.
$70 WTI and What the Market Just Told Us: Day-Close Verdict for US Upstream
WTI crude settled near $70 on Thursday, and the market's verdict is clearer than the headlines suggest: OPEC's cohesion is cracking, US upstream operators are repricing their second-half assumptions, and the companies that moved earliest to consolidate their balance sheets are now sitting in the
Iraq Threatens OPEC Exit as WTI Breaks $70: Thursday's Supply Math Just Changed
WTI broke below $70 overnight as Iraq threatened to quit OPEC over production quotas, Qatar restored LNG output, and the floor debate that defined June gets answered.
The $70 Break: China's Import Collapse Ends the Floor Debate
WTI broke $70 for the first time since Hormuz escalation began — driven by Chinese import data showing demand at 2018 lows. The EIA draw was massive. The market doesn't care.
WTI Breaks $72 as China's Teapot Refineries Signal Demand Collapse: Wednesday's Capital Markets Setup
WTI crude fell through $72 this morning for the first time in the current downcycle, settling at $71.99/bbl as China's refinery demand erosion collided with a market already pricing in Hormuz normalization. Henry Hub held firm at $3.215/MMBtu — up 0.97% — extending the oil-
The $73 Paradox: KRP Closes $145M Permian Deal and Dorian Books Tankers at $100K/Day
WTI fell 2.1% today to $73.25. Kimbell Royalty Partners closed a $145.9M Permian deal. Dorian LPG booked tankers at $100K/day. The market is saying two things at once.