Oil continues to drop ahead US drilling rigs count

2020-05-22 19:36:07 GMT (Economies.com)
Oil continues to drop ahead US drilling rigs count

Oil prices fell on Friday, amid concerns over the Chinese economy and renewed tensions between the US and China.

 

Baker Hughes will reveal later today its count for the US rigs working in shale oilfields for this week.

 

China decided on Friday to not set a specific target for economic growth this year, which renewed concerns about the Covid-19 pandemic impact and a drop in demand.

 

The dollar index rose against a basket of currencies by 0.5% to 99.8 points as of 16:45 GMT, after it hit a high of 99.8 and a low of 99.3.

 

West Texas Intermediate crude fell 3.1% to $32.8 a barrel as of 16:42 GMT, after it hit a day high of $34 and a low of $30.7.

 

Brent crude lost 3.2% to $34.9 a barrel, with a high of $36.2 and a low of $33.5.

 
 
 
  Symbol Last Change Chg.%
1.1232
0.0113
1.0203%
1.2570
0.0156
1.2595%
Tadawul
7222.41
-62.82
0.86%
17.625
-0.454
2.511%
36.667
2.180
6.321%
39.79
0.22
0.56%
1699.160
-33.525
1.935%
 
 
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