Crude eases as market eyes rising global supply, uncertain demand outlooks

摘要

Crude prices edged lower July 16 amid rising global supply outlooks and concerns that rising coronavirus cases could weigh on demand recovery. NYMEX August WTI settled down 45 cents at $40.75/b, and ICE September Brent moved 42 cents lower on the day to $43.37/b. After more than four months of weekly decreases, the US oil and gas rig count rose by nine to 288 the week ending July 15, rig data provider Enverus said. The US oil-focused rig count was up by 10 on the week at 202, while the number of rigs chasing natural gas fell by one to 86.