Brent crude futures were at $65.11 a barrel at 9.20am GMT, down 38c from their previous close. US West Texas Intermediate (WTI) crude futures fell 68 cents, or 1.1 per cent, to settle at US$61.36 per barrel.
As the rig count fell, "the market is starting to think that US shale oil production may not steadily grow, which is supporting oil prices", Takayuki Nogami, chief economist at state-backed Japan Oil, Gas & Metals National Corp., said by phone from Tokyo.
Oil prices fell on Monday as investors grappled with ongoing concerns over rising U.S. output and tight Opec supply, while last week's data showing speculators cut bets on oil suggested more selling could be seen.
OPEC and external allies such as Russian Federation have been involved in a yearslong effort to eliminate about 2% of the global crude supply and prop up crude prices that underwent an nearly three-year downturn.
Despite the drop in the rig count, which is often used an as early indicator of future production, activity remains much higher than a year ago when just 617 rigs were active.
Tesla suspended production of Model 3 briefly in late February
After $-3.84 actual EPS reported by Tesla, Inc . for the previous quarter, Wall Street now forecasts 15.89% negative EPS growth. Finally, Nord/LB set a $270.00 target price on Tesla and gave the stock a "sell" rating in a report on Thursday, February 8th.
Trump blocks Broadcom's takeover of Qualcomm
A broadening of the committee's mandate will raise protective barriers by expanding its authority to reject Chinese investments. It expects to complete the investigation shortly and requested Broadcom provide any additional information as soon as possible.
"Rising production and inventory in the United States has been reducing fund sentiment since it peaked at the end of January", ING said in a note. The most bullish scenario will be a weaker U.S. Dollar and higher equity prices.
He went on to state that while Friday's favourable job data from the USA and the first decline in rig counts in two months "might suggest a test of the high side of this expected range first, we still view downside price risk exceeding that to the upside".
That's more than top exporter Saudi Arabia producers and almost as much as Russian Federation pumps out, at nearly 11 million bpd.
Broader markets were roiled by U.S. President Donald Trump's decision to go ahead with tariffs in imported steel and aluminum, sparking fears of a trade war.
Crude oil prices slipped into negative territory early Monday, following big gains last week, as broader worldwide trade concerns spill into commodities.
Siemian, Lynch and Chad Kelly , a seventh-rounder previous year who sat out his rookie season with injuries, remain on the roster. Their inconsistent play on both the offensive line and at quarterback have been big reasons why they've sat out the postseason.
The woman won the Powerball drawing January 6 after buying the ticket at Reeds Ferry Market, a convenience store in Merrimack. The woman could have remained anonymous had she established a trust, then had a trustee sign the ticket, the lawyers argued.
All five passengers died, but Vance survived. "Someone climbed out of the helicopter and then was on top of the yellow raft". A search and rescue operation began nearly immediately, with divers working to free the victims submerged in frigid water.
The Jets will make a competitive bid for Cousins and expect to get a visit from him but they don't want a repeat of 2015. He had been franchise-tagged by the Redskins each of the last two seasons, but finally gets his big payday this year.
As of a few moments ago, we now know what the mysterious expansion signaling this shift turned out to be: The Witchwood . To help them survive the night, players can draw on an arsenal of new tricks, including the eerie new Echo keyword.
A senior USA official said North Korea offered to suspend their nuclear missile testing alongside their invitation for talks. Mnuchin said that Trump has been very clear that the objective is to get rid of nuclear weapons on the Korean Peninsula.
Along with a new storyline, players will get a new level cap of 55, new levels for crafting, resources, and a few new abilities. Better get to granulating in the event that you need to handle the Shadows of the Pharaohs with any level of mastery.
Paul Richardson of the Seattle Seahawks and the Arizona Cardinals' John Brown and Jaron Brown are among those in the second tier. The deal also includes the Packers and Browns flip-flopping their fourth- and -fifth-round picks, according to ESPN.
The Iowa Legislature has since hired a human resources director to oversee harassment complaints at the state Capitol. Dix was first elected to the Iowa Senate in 2011 after serving two terms in the Iowa House of Representatives.
Microsoft Office vice president Kirk Koenigsbauer launches Microsoft Teams one year ago this week on the company's Redmond campus. This includes Surface Hub, the large-screen video collaboration device for huddle spaces and other small-to-medium meeting rooms.
Yankees, Neil Walker close to $5M deal
As first reported by Jeff Passan , the New York Yankees have agreed to terms with second basemen/utility man Neil Walker . The 32-year-old hit.265 with 14 homers and 49 RBI last year for the Mets and Milwaukee, who acquired him August 12.
Coutinho backs Neymar to return to Barcelona
It is thought that he will play master puppeteer and try to negotiate with Al Khelaifi and Real president Florentino Perez. This is something Real Madrid could certainly capitalise on if they were to sign the Brazilian.
MSU set to play Nebraska in the NIT on Wednesday
The Huskers went 22-10 this season, including a 13-5 record in the Big Ten, but they didn't really have any big wins. So your team didn't make March Madness and is instead in something called the National Invitational Tournament.
Spotify launches music streaming service in Israel
Line-In will also keep track of users' past edits, and includes "a number or surveys to test a submitter's music knowledge". This is the first time Spotify will be available on the African continent.
DGCA bans 11 A320 neo aircraft over technical snag
Clarifying its position, Pratt & Whitney in a statement said, "We are working closely with our customers to minimise disruption. That's not acceptable, according to the DGCA, which said the manufacturer had "no concrete proposal in place at this stage".
Nintendo Switch Adds Friendly Firmware Update
Since launching back in 2017, these updates have added features like the ability to record video or to locate missing controllers. Nintendo Switch owners get with firmware 5.0.0 24 new ARMS and the Kirby series icons for their user account.
Japanese PM Urges North Korea to Commit to Denuclearization
President Moon will meet with Kim in April, while President Trump will meet with the North Korean leader by the end of May. On Monday night, Trevor Noah had a lot to say about President Trump's meeting with North Korean dictator Kim Jong Un .
Met fires James Levine after investigation into sexual abuse
Ashok Pai said he had been abused by Levine for years, beginning in 1986 near the Ravinia Festival in IL , when he was 16. The Met did not release the specific findings of its investigation, which it said had included interviews with 70 people.