U.S. energy firms this week cut the number of oil and natural gas rigs, with the quarterly count dropping for the first time since 2020, energy services firm Baker Hughes Co said on Friday. The U.S. oil rig count, an early indicator of future output, fell one to 592 this week, while gas rigs decreased two to 160. Despite this week's rig decline, Baker Hughes said the total count was still up 82 rigs, or 12%, over this time last year. Oil futures on Friday recorded their second-straight week of gains, after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. Coastal grades Light Louisiana Sweet and Mars Sour strengthened during the session. Inland grades were mixed.
* Light Louisiana Sweet for May delivery gained 10
cents at a midpoint of a $1.9 premium and was seen bid and
offered between $1.8 and $2 a barrel premium to U.S. crude
futures ?
* Mars Sour gained 20 cents at a midpoint of a $1.9
discount and was seen bid and offered between a $2 and $1.8 a
barrel discount to U.S. crude futures ?
* WTI Midland fell half a cent at a midpoint of a
65-cent premium and was seen bid and offered between 55-cent and
75-cent a barrel premium to U.S. crude futures ?
* West Texas Sour gained 20 cents at a midpoint of a
$1.3 discount and was seen bid and offered between a $2.2 and
40-cent a barrel discount to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between 15-cent and 35-cent a barrel premium to U.S. crude
futures ?
* ICE Brent May futures rose 50 cents to settle at
$79.77 a barrel on Friday?.
* WTI May crude futures rose $1.3 to settle at $75.67 a
barrel on Friday?.
(Reporting by Stephanie Kelly
Editing by Marguerita Choy)
