October 26, 2016

MANTHANTIPS:- NYMEX crude down slightly in Asia with U.S. rig count data ahead

Crude oil prices fell in early Asia on Friday in subdued trade ahead of the latest count of U.S. rigs in production from Baker Hughes. Crude oil for October delivery on the New York Mercantile Exchange dipped 0.08% to $47.34 a troy ounce. Last week, Baker Hughes said the number of rigs drilling for oil in the U.S. last week increased by 10 to 406, the eighth consecutive weekly rise and the 11th increase in 12 weeks. Overnight, oil prices were lower for the second straight session on Thursday, as markets remained fixated on a global supply glut and amid fading hopes that major oil producers will reach a deal to freeze output. Meanwhile, on the ICE Futures Exchange in London, Brent oil for October delivery slipped 11 cents, or 0.22%, to $48.93 a barrel, after falling 91 cents, or 1.82%, in the prior session




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