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Oil trading lower
This morning, New York crude oil futures for WTI have fallen in price by 0.96% to $ 43.49 and Brent oil futures fell in price by -0.97% to $ 46.15 per barrel. Thus, the black gold is traded lower on the background of concerns about the continuing increase in the number of drilling rigs in the United States, and that the restoration of the supply of oil from Libya and Nigeria exacerbate global oversupply. Data on the number of US rigs from Baker Hughes for the week will be released later today. Recovery of oil supplies from Libya and Nigeria would be an obstacle to the rebalancing of the global oil market.
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