Oil prices fell about half a percent on Friday after the U.S. oil rig count unexpectedly rose for the first time in five weeks, pressuring a market already at seven-year lows.
Global oil benchmark Brent and U.S. crude's West Texas Intermediate (WTI) futures settled down for a third straight week. With two weeks to the year-end, both were slated to finish 2015 down about 35 percent on a rout driven by oil oversupplies.
Despite the severity of the decline, data from oil services company Baker Hughes Inc showed U.S. energy firms added to the number of oil rigs in operation this week, indicating more supply to come. The closely watched report showed 17 new rigs that brought the total to 541.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
Global oil benchmark Brent and U.S. crude's West Texas Intermediate (WTI) futures settled down for a third straight week. With two weeks to the year-end, both were slated to finish 2015 down about 35 percent on a rout driven by oil oversupplies.
Despite the severity of the decline, data from oil services company Baker Hughes Inc showed U.S. energy firms added to the number of oil rigs in operation this week, indicating more supply to come. The closely watched report showed 17 new rigs that brought the total to 541.
No comments:
Post a Comment