Crude Oil gains In Asia On US Rig Count Numbers, Strong Demand Tone
Crude oil gained in Asia on Monday, getting some support as the number of rigs drilling for oil dipped last week and on continued strong demand cues from the regional market.
US West Texas Intermediate (WTI) crude futures for January delivery edged up 0.07% to $57.37 a barrel. ICE Brent rose 0.06% to $63.27 a barrel.
Last week, oil settled on a mixed note on Friday, with prices notching their third-consecutive weekly loss amid concerns over rising production in the U.S.
Meanwhile, February Brent crude futures, the benchmark for oil prices outside the U.S., dipped 8 cents, or roughly 0.1%, to settle at $63.23 a barrel by close of trade. For the week, Brent suffered a loss of about 0.3%.
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