You are here: Home » Reuters » News
Business Standard

Oil prices edge up on lower U.S. rig count, but below recent highs

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices firmed on Monday on the back of a slight decline in the number of U.S. rigs drilling for new production, with crude holding just below near three-year highs reached last week.U.S. West Texas Intermediate (WTI) crude futures were at $61.62 a barrel at 0344 GMT, 18 cents, or 0.3 percent, above their last settlement, and not far off the $62.21 May 2015 high reached last week.Brent crude futures were at $67.77 a barrel, 15 cents, or 0.2 percent, above their last close. Brent hit $68.27 high last week, the highest since May 2015.Traders said the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, January 08 2018. 09:29 IST
RECOMMENDED FOR YOU