Baker Hughes Oil rigs -4 at 418

• Oil rigs: -4 at 418
• Gas rigs +2 at 120
• Total Rigs -2 at 547.

The price of crude oil is trading sharply lower by $2.48 and $59.05 as the market reacts to the prospects of higher tariffs slowing growth and demand. Hopes for continued peace in the Middle East is also an influence as is the production increases.

Pres. Trump said yesterday the gasoline will be at $2 per gallon shortly

This article was written by Greg Michalowski at investinglive.com.