Oil drilling rigs
Oil prices ended up on Friday, posting a weekly rise as investors assessed market outlook and the potential implications of US tariffs on global economic growth. 
Brent crude futures for September delivery gained 2.51%, or $1.72, to settle at $70.36 a barrel, recording a 3% weekly gain.
WTI crude futures for August delivery rose by 2.82%, or $1.88, to $68.45 a barrel, posting a 2.16% weekly rise.
The International Energy Agency (IEA) suggested the oil market may tighten further this year, despite a downward revision to global oil demand growth estimates.
Oil prices faced offsetting pressure from concerns over slowing global economic growth, amid US President Donald Trump’s continued push for steep tariffs on other countries.
Meanwhile, Baker Hughes said on July 11 that the number of active oil rigs in the US fell for the eleventh consecutive week, signaling a potential decline in future domestic crude supply.
Oil drilling rigs
Oil prices ended up on Friday, posting a weekly rise as investors assessed market outlook and the potential implications of US tariffs on global economic growth.
Brent crude futures for September delivery gained 2.51%, or $1.72, to settle at $70.36 a barrel, recording a 3% weekly gain.
WTI crude futures for August delivery rose by 2.82%, or $1.88, to $68.45 a barrel, posting a 2.16% weekly rise.
The International Energy Agency (IEA) suggested the oil market may tighten further this year, despite a downward revision to global oil demand growth estimates.
Oil prices faced offsetting pressure from concerns over slowing global economic growth, amid US President Donald Trump’s continued push for steep tariffs on other countries.
Meanwhile, Baker Hughes said on July 11 that the number of active oil rigs in the US fell for the eleventh consecutive week, signaling a potential decline in future domestic crude supply.
