Baker Hughes US Oil Rig Count comes in at 450, down from previous 452

The Baker Hughes US Oil Rig Count for July 24, 2026, showed 450 active oil rigs. This figure represents a decrease from the previous count of 452 rigs. No consensus figure was available for this release.

Following the release, the US Dollar generally strengthened against major currencies over the subsequent hour. USDCAD rose 13 pips, exceeding its median 1-hour move of 6 pips and falling within its top-quarter range of 12+ pips. USDCHF gained 9.5 pips, also surpassing its median 4 pips and reaching its top-quarter range of 8+ pips. USDJPY saw a gain of 3.8 pips, which was slightly below its median 1-hour move of 4 pips. Conversely, AUDUSD declined 5.1 pips, EURUSD fell 8.7 pips, GBPUSD dropped 8.9 pips, and NZDUSD lost 6.7 pips. For these pairs, the moves were generally larger than their respective median 1-hour moves, with EURUSD and GBPUSD approaching their top-quarter ranges. Gold, XAUUSD, declined 40 pips, a move larger than its median 15 pips and within its top-quarter range of 32+ pips.