547 Rig Count 10.10.25

 Friday's weekly (10.10.25) U.S. onshore Active Rig Count total fell to 547. Oil development lost four units and gas basin activity gained two. Asset price volatility is the news.
 
WTI crude oil closed @ $58.90/Bbl. Natural gas (HH) followed crude oil prices downward to $3.11/Million Btu. The DJI Average lost -878.82 points, a 1.90% one-day decline. Crude oil and natural gas prices were climbing upward midweek before collapsing Friday morning.
 
Profit taking, economic uncertainty and fatigue may summarize some of today's events. The U.S. government remains closed. September Fed meeting minutes were released expressing negative viewpoints on additional interest rate reductions. Gold topped over $4,000/ounce this week. The U.S. provided a $20 billion dollar currency intervention to support Argentina's peso. The Permian Highway Pipeline (PHP), a major West Texas natural gas pipeline closed for maintenance resulting in negative Waha gas pricing of $8.50 /Million Btu for some operators. Additional China tariffs may be imposed. The negative news/fatigue likely persuaded many investors to sell and go home for the weekend. However, a buying opportunity was present for the brave.