Oil falls for third straight week with a rise in number of oil rigs in America 12/19
Oil falls for third straight week with a rise in the number of oil rigs in America 12/19
Oil futures prices fell on Friday after data showed a rise in the number of oil rigs operating in the United States for the first time in five weeks.
And it closed the global Brent crude and US crude measurement of West Texas Intermediate contract low for the third straight week. Two weeks ago, at the end of the year already allocated indices are heading to end the 2015 losses of about 35 percent with Tdhararhama of a growing supply glut in the market.
In spite of this sharp drop data from Baker Hughes oil services company showed that US energy companies increased the number of oil rigs running this week, suggesting that additional supplies will reach the market.
The report showed that the market closely pursued by adding 17 oil rigs, bringing the total to 541.
Said Peter Donovan, a broker at the Akodety Energy in New York, "the sudden increase in the number of drilling rigs" some thing ".." I do not think that the market decline after the report was a coincidence. "
US crude plunged to $ 34.29 a barrel [the lowest level since February 2009] after the publication of the Baker Hughes report. But it recovered somewhat to close down 22 cents or 0.63 percent to $ 34.73 a barrel.
US and Brent crude ends week on a loss of 2.5 percent.
Brent fell 18 cents or 0.49 percent to a record settlement of $ 36.88 when a barrel ahead of only 21 cents above its lowest level since 2004. Over the week, Brent fell 3 percent.