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U.S. drillers have experienced a significant boost in their oil rig count, marking the largest increase in a single week since February, according to recent data from Baker Hughes. The number of active oil rigs surged by 12, bringing the total count to 674. This surge comes as crude prices have been steadily rising, with […]
Oil Rig Count Soars, Boosting Crude Prices: Positive Signs for U.S. Oil Industry #activeoilrigs #crudeprices #EagleFordShale #oilrigcount #PermianBasin
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Crude Oil Futures Drifted On Global Leads
Crude oil futures floated lower by Rs 3 to Rs.4,099 a barrel on Wednesday as speculators cut their exposure amid a weak trend internationally. At Multi Commodity Exchange (MCX), crude OIL for delivery in April dimmed Rs 3, or 0.07%, to Rs.4099 a barrel in a business turn-over of 10,653 lots. The fall in crude prices at futures market is attributed mostly in synchronization with a weak trend overseas weighed down by economic growth issued that diminished the outlook for fuel consumption. Meanwhile, WTI crude traded 0.22% lower at USD 59.16, while Brent crude fell 0.04% to USD 67.58 a barrel, amid continued concerns about the OPEC reducing supplies MCX Crude oil futures settled at Rs4100 per barrel, up marginally while Global markets are looking slightly cautious ahead of the Fed monetary policy meeting and there is a possibility of oil extending losses. The U.S Energy Info Admn is due to release its weekly crude production and storage level report on Wednesday. Get Nifty Future Tips , Commodity tips, Stock future tips by Best Stock Advisory Service in India. Read the full article
