You are here: Home » Reuters » News
Business Standard

Oil holds near nine-week highs on jobs data, fall in U.S. drill rigs

Reuters  |  SEOUL 

By Jane ChungSEOUL (Reuters) - Oil prices edged lower on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drill rig count, even as rising output from OPEC capped crude markets. Global benchmark Brent crude futures were down 6 cents, or 0.11 percent, at $52.36 a barrel at 0309 GMT. U.S. crude futures were down 7 cents, or 0.14 percent at $49.51 per barrel. Prices for both benchmarks have been on the rise, holding near their highest since late May, when oil producers led by the Organization of the Petroleum Exporting ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, August 07 2017. 09:59 IST