Crude prices soar on first dip in American drilling in months

Crude prices soar on first dip in American drilling in months

On Monday, crude jumped, underpinned by the first sag in American drilling activity in months, though revenues were capped by reports of soaring OPEC output the previous month even as the group has promised to minimize supply.

Brent crude futures managed to leap 0.3%, showing $48.93 per barrel, having soared 5.2% the previous week, its first weekly jump in six weeks.

American West Texas Intermediate crude futures went up 0.5%, trading at $46.28 per barrel, contributing to the previous week's 7% revenue.

Oil prices added because drilling activity in America for new crude output went down for the first time since January, losing by two rigs.

American crude futures went down 9% during the second quarter, which concluded in June, while Brent futures sagged 9.3%. It extended first-quarter dips for the contracts.

Notwithstanding the sag in American drilling activity, the overall rig count turned to be more than double the 341 rigs in the same week the previous year, according to energy services company Baker Hughes Inc.


Gold slumps to 1-week minimum as greenback is still backed

On Wednesday, gold declined to one-week minimum because strength in the evergreen buck kept weighing, in spite of the fact caution ahead of the minutes of the Fed’s latest gathering along with uncertainty surrounding a huge American debt auction this…


Yen climbs up in Asia trade

On Friday, the Japanese yen leapt in Asia on safe-haven demand because political turmoil in Brazil reached risk sentiment and financial markets became cautious ahead of the weekend…

Pound tumbles vs yen

On Tuesday, the British pound sank versus the Japanese yen after a suspected terrorist attack at a concert in Manchester, while the common currency hovered close to a six-month peak versus the greenback after German Chancellor Angela Merkel told that the…

promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera