Oil down by more than 2% ahead of US rig count - Breaking The News

Oil down by more than 2% ahead of US rig count

2 August

1 min read

EPA-EFE/TANNEN MAURY

The prices of oil futures decreased on Friday ahead of the newest report on the number of rigs in the United States. Investors also possibly reacted to the news of the cooperation between BP PLC and Iraq on further exploitation of oil fields in that country.

West Texas Intermediate (WTI) for deliveries in September plunged by 2.50% at 9:30 am ET to sell for $73.23 per barrel. A minute later, Brent for October's settlements sank by 2.21% to go for $77.63 per barrel.

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