ZCZC
BCN-19
US-ENERGY-OIL-PRICE
Oil prices fall as U.S. rig count rises
NEW YORK, July 28, 2018 (BSS/Xinhua) – Oil prices declined on Friday as
U.S. energy companies added oil rigs for the first time in the past three
weeks.
The number of rigs operating in U.S. oil fields rose by three to a total
of 861 rigs this week, the first time in the past three weeks that drillers
have added rigs, oilfield service firm Baker Hughes said in its weekly report
on Friday.
On the economic front, U.S. real gross domestic product (GDP) increased at
an annual rate of 4.1 percent in the second quarter of 2018, marking the
fastest pace in almost four years, according to the advance estimate released
by the Commerce Department on Friday. In the first quarter, U.S. real GDP
increased 2.2 percent.
The West Texas Intermediate for September delivery fell 0.92 U.S. dollar
to settle at 68.69 dollars a barrel on the New York Mercantile Exchange,
while Brent crude for September delivery lost 0.25 dollar to 74.29 dollars a
barrel on the London ICE Futures Exchange.
BSS/XINHUA/HR/1155