The number of oil rigs in the United States stood at 489 in the week ending April 4, increasing by five from the week prior, according to the Baker Hughes weekly rig count released on Friday. On an annual basis, the number of oil rigs fell by 19.The US gas rig count declined by 7 to 96 during the...
Crude oil prices plunged over 8% on Friday after China announced sweeping new tariffs on US goods. This escalated the global trade war ignited by US President Donald Trump's aggressive protectionist policies earlier this week.The selloff deepened after OPEC+ advanced its plan to boost production in...
Crude oil prices extended losses on Friday as markets worry about a possible drop in demand resulting from trade tariffs imposed by the United States. Meanwhile, OPEC+ announced yesterday that it will increase output by 411,000 barrels per day in May, more than expected.West Texas Intermediate...
The prices of oil futures continued to lose ground on Friday as investors kept assessing the impact of United States President Donald Trump's tariffs on trade.West Texas Intermediate for May's settlements plunged by 2.30% at 3:50 am ET to sell for $65.53 per barrel. Simultaneously, Brent for June's...
Crude oil prices continued to drop on Thursday after United States President Donald Trump slapped tariffs on imports from all over the world, raising concerns about the future of global trade and economy.Additionally, the Organization of Petroleum Exporting Countries (OPEC) and its partners of...
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