Friday's weekly (9.19.25) overall U.S. Onshore Active Rig Count improved by three. Gas activity remained flat @ 118 units. Natural gas prices (HH) closed at $2.89 M/Btu and WTI crude oil at $62.68/Bbl. Focus is on U.S. economy to grow and increase demand. Oil and natural gas markets remain well supplied.
 
U.S. Federal Reserve reduced prime borrowing costs by .25% on 9.17.25 as a stimulus for economic growth; more rate reductions forthcoming. Employment remains soft. Conoco-Phillips and Chevron are moving forward with a 20-25% world-wide workforce reduction into 2026. Oil service companies have fewer active clients. Each U.S. rig addition is important!
 
SCOTUS started brief proceeding on Friday, 9.19.25, concerning tariff trade policy. Three separate challenges concerning use of the International Emergency Economic Powers Act of 1977 will be decided. Arguments start on November 5. Economic stakes are high. The decision will determine if the U.S. Executive Branch has power to enforce reciprocal trade policies and more.
 
Informative SCOTUS blog by Amy Howe: https://lnkd.in/gE2nFgQh