Oil prices rise on falling U.S. rig count

0 Comment(s)Print E-mail Xinhua, November 9, 2019
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NEW YORK, Nov. 8 (Xinhua) -- Oil prices rose on Friday after data showed U.S. Oil rig count fell this week.

The number of active drilling rigs in the United States decreased by five to 817 this week, down 264 compared to the same period last year, according to the weekly data released by Baker Hughes on Friday.

According to the Houston-based oilfield services company, U.S. rigs classified as drilling for oil were down seven at 684.

The West Texas Intermediate (WTI) for December delivery increased 0.09 U.S. dollar to settle at 57.24 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery increased 0.22 dollar to close at 62.51 dollars a barrel on the London ICE Futures Exchange. Enditem

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