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Home > Crude Slips After Oil Rig Count Rises For 2nd Consecutive Week

Crude Slips After Oil Rig Count Rises For 2nd Consecutive Week

By Tyler Durden
Created 07/10/2015 - 12:10
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 07/10/2015 12:10 -0500



 

For the 2nd week in a row - after declines every week this year - the US oil rig count increased (up 5 to 645). The total rig count rose 1 to 863 (for the 3rd week in a row). The initial reaction was a smal snap below $52.50 but WTI is stabilizing now...

 

3rd week in a row of total rigs increased...

[3]

 

Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-07-10/crude-slips-after-oil-rig-count-rises-2nd-consecutive-week

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