Oil deepens losses, drops over 2% in a week

23/02/2024 Argaam

Oil deepens losses, drops over 2% in a week

Oil drilling rigs

Oil deepened its losses on Friday, snapping two-week gains as markets are watching Gaza ceasefire talks in Paris.

 

Brent crude for April delivery fell 2.45% to $81.62 a barrel, losing 2.2% in a week.

 

WTI contracts for April delivery shed 2.7% to $76.49 a barrel, dropping nearly 2.5%.

 

The US drilling rig count increased by six week-on-week to 503 in the week ended Feb. 23, Baker Hughes energy services firm said in its closely followed report on Friday.

 

The US drillers rose to their highest level in three months, compared to 505 in the first week of December 2023.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read