WTI crude oil futures stood at USD $82.41 during the last week, marking a notable drop compared to the week before it and a slight decrease from a month ago. This decline comes as traders have scaled back the geopolitical risk premium that had been driving prices up over the past fortnight, particularly due to tensions in the Middle East.

Recent data from Baker Hughes reveals that oil rig counts rose to 511 on April 19, reflecting improved market demand. This increase brought the rig count to its highest level since mid-October.

In addition to the rise in oil rig counts, Guar gum prices also saw an uptick compared to the previous week. With the surge in oil rig activity, there's an anticipated boost in Guar gum exports in the upcoming month. This development is likely to further bolster Guar prices in the near future.