Oil prices continued to rise on Friday, wrapping up the week with a two-day rebound, as the number of U.S. active oil rigs declined sharply this week.
The West Texas Intermediate for September delivery rallied 1.96 U.S. dollars to settle at 54.50 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery rose 1.15 dollars to close at 58.53 dollars a barrel on the London ICE Futures Exchange. In the week ending Aug. 9, U.S. oil rig count dropped by six to 764, marking the lowest level since February 2018, U.S. energy services firm Baker Hughes said in its weekly report on Friday.
The reading was also 105 lower than the 869 of the same week last year. This week marked the sixth consecutive week that saw oil rig count falling and posted the most weekly declines in a row since March, according to Reuters.
Source:cctvplus
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
Please Contact Us at：
admin@xindemarine.com
.gif)
