CRUDE OIL NEWS UPDATE ( www.trademaxindia.com) call@ 8218995526 , 8077693966

Oil prices stumble at start of week after U.S. rig count rises

Oil prices fell Monday, reflecting fresh concerns over supply after data late last week showed the U.S. oil-rig count rising for the 10th straight week.

Investors also remain focused on developments in Venezuela, where popular opposition leader Juan Guaido called for more public protests and the country’s top military envoy to the U.S. defected from the government.

West Texas Intermediate crude for March delivery US:CLG9 fell 93 cents, or 1.7%, to $52.77 a barrel, after rising 1.1% to $53.69 a barrel on the New York Mercantile Exchange on Friday. The contract lost 0.7% for the week.

 

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