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Monday, 3 April 2017

Oil prices fall as US rig count stokes oversupply worries | GulfNews.com

Oil prices fall as US rig count stokes oversupply worries | GulfNews.com:

"Oil futures dipped on Monday as a higher US rig count indicated rising shale output and stoked worries about global oversupply, while a stronger dollar also pressured prices. International benchmark Brent futures had slipped 7 cents to $53.46 a barrel by 0207 GMT (6am Dubai, 10am Singapore). The March contract closed the previous session down 13 cents at $52.83 a barrel. US West Texas Intermediate crude futures fell 3 cents to $50.57 a barrel after settling 25 cents higher in the previous session."



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