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Oil prices rise as a result of decline in the number of US rigs and a falling dollar
10.12.2015
Oil prices rose in early Asian trading on Monday, after the US drilling companies reduced the number of oil rigs for the sixth consecutive week, while traders waited for the deployment of Chinese trade data in the wake of a national holiday, which lasted a week.
She said Baker Hughes oil services company in late on Friday that the drilling companies downgraded nine rigs during the week that ended on the ninth of October, dropping to 605 the number of drilling rigs.
Futures prices for WTI and US recorded a median of $ 49.79 a barrel by 0008 GMT, up 16 cents from the last adjustment to him. Futures contracts rose for Brent 11 cents to $ 52.76 a barrel.
And also support the weaker US dollar oil prices because it makes imports of countries using different currencies cheaper.
The dollar fell to its lowest level in three weeks against the euro after the minutes showed that the Federal Reserve's policy setting meeting in September not to hasten the Council of the Zeya interest rates.
It is likely that the data will come out of China in the coming days to more than double in the second largest economy in the world and will import and export data published on Althelathae.anthy 29 quarters indicate e
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