US drillers added 13 rigs to the number of oil and gas rigs this week, according to Baker Hughes, adding 10 active oil rigs and 3 active gas rigs. The oil and gas rig count now stands at 1,045—up 160 from this time last year. Meanwhile, neighboring Canada lost 7 rigs for the week—the latest in a string of losses. Gas rigs in Canada are now fewer in number than they were a year ago. Both the Brent and WTI benchmark were trading down on the day at 10:00am EST after reaching almost three-year highs earlier in the week over U.S. President Donald Trump’s announcement that the US would withdraw from the nuclear deal, combined with Venezuela’s falling production. WTI was trading down 0.32% at $71.13, with Brent trading down 0.30% at $77.24. Western Canada Select (WCS) was trading down a staggering 4%, increasing its discount to WTI. Oil […]