Following a technical correction during the first half of the day toward the $63 mark, the barrel of [URL deleted] West Texas Intermediate gained traction and retook the $64 mark despite signs of increasing [URL deleted] oil output from the United States. At the moment the barrel of WTI is trading at $64.10, adding 0.5% on the day.
The weekly report released by General Electric Co's Baker Hughes energy services firm on Friday showed that drillers in the U.S. added 10 more oil rigs last week, bringing the total number of active rigs to 752. Energy companies seem to be taking the opportunity to increase their output amid the high demand for heating oil and rising prices.
On the other hand, the broad-based selling pressure surrounding the greenback is providing an additional boost to the USD denominated WTI on Friday. The US [URL deleted] Dollar Index today broke below the 91 mark to refresh its worst level since January of 2015 and was last seen down 0.87% at 90.86.
The weekly report released by General Electric Co's Baker Hughes energy services firm on Friday showed that drillers in the U.S. added 10 more oil rigs last week, bringing the total number of active rigs to 752. Energy companies seem to be taking the opportunity to increase their output amid the high demand for heating oil and rising prices.
On the other hand, the broad-based selling pressure surrounding the greenback is providing an additional boost to the USD denominated WTI on Friday. The US [URL deleted] Dollar Index today broke below the 91 mark to refresh its worst level since January of 2015 and was last seen down 0.87% at 90.86.
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