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CommodityOilPrice.com

6 Million Barrels in Two Minutes Draws CFTC Scrutiny

Oil traders sold futures equivalent to at least 6 million barrels of crude in just two minutes on March 23, shortly before President Donald Trump backed away from threats to strike Iranian power plants. Now, the federal regulator overseeing those trades says it has been looking into the activity. Commodity Futures Trading Commission Chairman Michael Selig said Friday that the agency's enforcement…

CommodityOilPrice.com

U.S. Rig Count Holds Steady as Oil Prices Surge

The total number of active drilling rigs for oil and gas in the United States remained unchanged for the second week in a row this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 603, up 53 from this same time last year. The number of active oil rigs rose by 1, to 460 during the latest reporting period, according to the data. This…

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