Oil prices jump after Baker Hughes report

Friday, 29. May 2020 21:04

Crude prices jumped on Friday after the release of Baker Hughes weekly rig count, which revealed that the number of oil rigs in the United States had decreased by 15 to 237 in the past week.

West Texas Intermediate (WTI) rose 3.82% to $35.03 per barrel at 2:57 pm ET. Meanwhile, July Brent settled 0.25% lower at $35.31 per barrel.

WTI surged 116.2% over the past month, while Brent increased by 58.09% in the same period.

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Breaking the News / JR