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WTI threatened by higher U.S oil rig count

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 21, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Oil concluded last week heavily depressed closing under $36 following the Friday report from oil services company,Baker Hughes Inc. showing that theoil rig count climbed for the first time in five weeks. Sentiment towards WTI Oil received a heavy blow as this latest increase in oil rig counts, combined with the consistent rise in crude oil inventories have led to intensifying concerns over the aggressive oversupply in the markets. Investor attraction towards this commodity has rapidly faded,

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