Friends of Manufacturing

Oil Falls on Growing U.S. Drilling Activity

|

Oil prices extended losses on Monday to trade near a four-month low after increased drilling activity in the U.S. indicated a strong rise in production was coming.

U.S. crude futures settled down 56 cents, or 1.15%, at $48.22 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 14 cents, or 0.27%, at $51.62 a barrel on ICE Futures Europe.

Full Article

Back