Oil prices fall to three-month low as U.S. rig count climbs

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Oil prices fall to three-month low as U.S. rig...
 © CyprusWeekly 2017
Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.

Brent crude was down 11 cents, or 0.21 percent, at $51.26 per barrel by 0755 GMT, its lowest since Nov. 30. It closed the previous session down 1.6 percent at $51.37.

U.S. West Texas Intermediate crude (WTI) declined 19 cents, or 0.39 percent, to $48.30 a barrel, also the lowest since Nov. 30.

Brent crude is set to drop for a fifth day, its biggest losing streak since a six-day slump that ended on Nov. 4. During this streak, the price has...


Oil prices fall to three-month low as U.S. rig count climbs


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