Oil trims losses, Brent returns above $43

2020-10-16 18:56:57 GMT (Economies.com)
Oil trims losses, Brent returns above $43

Oil prices fell on Friday, but pared some of these losses after the US dollar fell against its peers.

 

This came despite lingering worries about the coronavirus impact on global demand, especially as the second wave of infections sparked in some countries, which would lead to a comeback of the lockdown restrictions.

 

Baker Hughes announced today that the US crude oil drilling rigs count rose 12 rigs to 205 during this week.

 

The dollar index rose against a basket of currencies by 0.2% to 93.6 points as of 18:14 GMT, after it hit a high of 93.8 and a low of 93.5.

 

As of 18:09 GMT, WTI crude November futures at NYMEX fell by 0.1% to $40.9 a barrel, after hitting a high of $41.05 and a low of $40.08.

 

Brent December futures fell 0.3% to $43.01 a barrel, with a high of $43.2 and a low of $42.2.

 
 
 
  Symbol Last Change Chg.%
1.1834
0.0055
0.4635%
1.3026
0.0039
0.2968%
Tadawul
8154.59
-312.66
3.69%
24.325
-0.449
1.812%
39.154
-1.788
4.368%
41.77
-0.87
2.04%
1898.345
-13.670
0.715%
 
 
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