Baker Hughes oil rig counts 258 vs. 277 estimate and 292 last week

Baker Hughes rig count continues to tumble
– Oil rig counts 258 vs. 292 last week and 277 expected
– Gas rig count 79 vs. 80 last week. Estimate 65
– Total rig count 339 vs. 374 last week
WTI crude oil futures is trading at $29.21 up $1.33 or 4.77% on the day (July delivery).