Commodities
US Oil Rig Count Reaches 452 Following Week-Ending Increase
The oil rig count in the US has seen an increase of 2 rigs compared to last week, according to data released by Baker Hughes on Friday.
This brings the total number of active oil rigs to 452 for the week ending September 18.
While this week's count is only up by 2 from the previous week, it marks a significant increase compared to last year - with the current number being 34 more than it was in the same period one year ago.
The prices of international benchmark Brent crude futures and American benchmark West Texas Intermediate (WTI) stood at $103.87 per barrel and $99.53 a barrel, respectively, at Friday's close.