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Oil prices rise amid falling U.S. oil rig count

2019-04-19 04:41

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NEW YORK, April 18 (Xinhua) -- Oil prices rebounded slightly on Thursday, as U.S. weekly rigs for drilling oil fell for the first time in three weeks and U.S. oil stockpiles also declined last week.

The number of active U.S. oil drilling rigs dropped by eight to 825 in the week to April 18, U.S. energy services firm Baker Hughes reported Thursday.

The data was released one day earlier than usual, because the market will be closed on Good Friday, a Christian holiday for the United States.

U.S. crude oil imports averaged 6.0 million barrels per day (bpd) for the week ending April 12, down by 607,000 bpd from the previous week, which amounts to a weekly decrease of 1.4 million barrels, the Energy Information Administration said Wednesday.

The West Texas Intermediate for May delivery rose 0.24 U.S. dollar to settle at 64.00 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery was up 0.35 dollar to close at 71.97 dollars a barrel on the London ICE Futures Exchange. Enditem

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