CRUDE SUMMARY: Oil falls, torn between lower US oil rig count and stronger US dollar

摘要

LONDON (ICIS) --- Crude futures opened on a negative note, trading weaker during the Asian morning with pressure coming from rising US output. The pressure rose later on as concerns about Iranian oil supply lingered with political tensions high. Both Brent and WTI oil futures seemed to slowly drop out of the December bull run. Outages in the North Sea were removed and supply of US oil was still seen as very healthy. Those bearish signals somehow tempered the market's bullish impulse.