Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

US crude oil edges back over $40

  • SOURCE: | Editor
  • oil-dropsOil prices edged up on Tuesday after U.S. crude broke below $40 per barrel the previous session, but traders said fuel markets continued to be dogged by excess production.


    U.S. West Texas Intermediate (WTI) crude was at $40.15 a barrel at 0433 GMT, up 9 cents from its last close after dipping below $40 for the first time since April the previous session.

    International Brent crude oil futures were trading at $42.34 per barrel, up 20 cents from their last close.

    Despite the slightly higher prices on Tuesday, oil market data imply bearish market conditions.

    Industry data shows that the global oil rig count for new production edged up in June for the first time this year, rising by two to 1,407, largely thanks to an uptick in U.S. drilling.


    Source: Reuters


    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do You Think ExxonMobil's Arrival Is Going To Make Significant Contribution Towards Our Oil Sector?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Dec 2018 >>
    MTWTFSS
    26 27 28 29 30 1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    31 1 2 3 4 5 6
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar