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Oil prices jump as U.S. rig count falls

Release Date:2018-09-29 15:09:51     Source:Xinhua     Author: huaxia

Oil prices extended gains on Friday as the number of active U.S.rigs drilling for oil fell for a second straight week.

The number of rigs operating in U.S.oil fields decreased by three to a total of 863 rigs this week,after edging down by one last week,oilfield service firm Baker Hughes said in its weekly report on Friday.

Meanwhile,the lingering concerns about U.S.sanctions on Iran's crude exports,which are set to take effect Nov.4,continued to bolster oil prices.

The West Texas Intermediate for November delivery rose 1.13 U.S.dollars to settle at 73.25 dollars a barrel on the New York Mercantile Exchange,while Brent crude for November delivery added 1.00 dollar to 82.72 dollars a barrel on the London ICE Futures Exchange.

 

Editor:Cherie

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