Crude oil prices to decline in the early Asian session.
WTI crude oil for September delivery fell 0.44% to $ 43.68.
Research group Baker Hughes said late Friday that the number of rigs drilling for oil in the US increased by six last week.
There are still about 60 percent less platforms, although the pace of decline slowed significantly in recent weeks, fueling fears that the production of shale may rebound in the coming months.
The Brent for September delivery fell to a low of $ 48.42 a barrel, the weakest level since March 2009, before closing at $ 48.61, down 91 cents, or 1.84 percent.
Crude oil prices will likely continue to move in a downward trend due to increased production from Saudi Arabia and target a greater share of the energy market
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.