Oil drilling rigs
Global oil prices rose during Friday’s trading as cautious optimism over efforts to secure peace in the Middle East between the United States and Iran supported market sentiment. 
Tim Waterer, Chief Market Analyst at KCM Trade, said markets remain cautiously optimistic, with traders wanting to believe peace efforts will succeed but preferring to stay hedged until tangible evidence emerges, according to Reuters.
Benchmark Crude Futures
Crude
Price ($/bbl)
Change ($)
Change (%)
Brent (September)
72.22
+0.42
+0.60%
WTI (August)
69.00
+0.31
+0.45%
Meanwhile, the number of active US oil rigs increased by five to 445 in the week ended July 2, while natural gas rigs rose by one to 126, according to data released on Thursday by Baker Hughes ahead of the Independence Day holiday.
Oil drilling rigs
Global oil prices rose during Friday’s trading as cautious optimism over efforts to secure peace in the Middle East between the United States and Iran supported market sentiment.
Tim Waterer, Chief Market Analyst at KCM Trade, said markets remain cautiously optimistic, with traders wanting to believe peace efforts will succeed but preferring to stay hedged until tangible evidence emerges, according to Reuters.
Benchmark Crude Futures
Crude
Price ($/bbl)
Change ($)
Change (%)
Brent (September)
72.22
+0.42
+0.60%
WTI (August)
69.00
+0.31
+0.45%
Meanwhile, the number of active US oil rigs increased by five to 445 in the week ended July 2, while natural gas rigs rose by one to 126, according to data released on Thursday by Baker Hughes ahead of the Independence Day holiday.
