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Crude oil is firm despite rising numbers of US oil rigs
Crude oil prices stabilized on Monday, with the start of the week's trading, after falling for the past two sessions. This stability in price levels despite the increase in the number of US oil rigs last week.
US crude futures were trading at $ 68.36 a barrel, after hitting a high of $ 68.38 a barrel, while opening today's session at $ 68.19 a barrel, which hit a low of $ 68.09 a barrel.
The number of oil rigs in the United States during the week ending April 20 rose by five, bringing the total to 820 diggers, the highest level since March 2015.
The number of rigs suggests further increases in US crude oil production, Since mid-2016 to reach a record high of 10.54 million barrels per day.
Despite declines in crude oil prices on Monday, markets are still well supported by strong demand, especially in Asia, and Brent crude prices rose 20 percent from their 2018 low in February.
http://economy-news.net/content.php?id=12042
Crude oil prices stabilized on Monday, with the start of the week's trading, after falling for the past two sessions. This stability in price levels despite the increase in the number of US oil rigs last week.
US crude futures were trading at $ 68.36 a barrel, after hitting a high of $ 68.38 a barrel, while opening today's session at $ 68.19 a barrel, which hit a low of $ 68.09 a barrel.
The number of oil rigs in the United States during the week ending April 20 rose by five, bringing the total to 820 diggers, the highest level since March 2015.
The number of rigs suggests further increases in US crude oil production, Since mid-2016 to reach a record high of 10.54 million barrels per day.
Despite declines in crude oil prices on Monday, markets are still well supported by strong demand, especially in Asia, and Brent crude prices rose 20 percent from their 2018 low in February.
http://economy-news.net/content.php?id=12042
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