Baku, Azerbaijan, Apr. 17
By Leman Zeynalova – Trend:
Oil prices were going down on April 17 amid the growing number of drilling rigs in the US.
The price for June futures of Brent crude oil has decreased by 0.88 percent to $55.40 per barrel as of 06:09 (GMT +4).
Meanwhile, the price for May futures of West Texas Intermediate (WTI) has dropped by 0.83 percent and stood at $52.74 per barrel.
Oil trade is expected to be low on April 17 as many countries celebrate Easter Monday.
The number of drilling rigs in the US has increased by 0.95 percent and reached 847 over the week ending April 13, according to the data of Baker Hughes. The number of drilling rigs in the country has grown by 92.5 percent per annum.
The US oil drilling rigs saw a 1.63 percent increase in number, while the number of gas drilling rigs has dropped by 1.81 percent, according to Baker Hughes.
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