Monday, 10 September 2018

Crude Oil Settled Flat As Signs Of Tightening U.S. Output Were Offset By A Stronger Dollar

Crude oil trading range for the day is 4773-4953.

Crude oil settled flat as signs of tightening U.S. output were offset by a stronger dollar and fears rising U.S.-China trade tensions could hamper oil demand.

A mixed petroleum report showing crude stockpiles fell, but product inventories rose sharply also weighed on sentiment.

Oilfield services firm Baker Hughes reported that the number of U.S. oil drilling rigs in operation fell by 2 to 860.

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