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Oil near three-month lows as glut concerns persist

Published 25/07/2016, 12:32
Updated 25/07/2016, 12:32
© Reuters.

© Reuters.

Investing.com – Oil traded near three-month lows on Monday as supply glut concerns continue to weigh.
U.S. crude was down 28 cents, or 0.63%, at $43.91 at 06:45 ET, while Brent crude fell 0.61% to $45.81.
U.S. crude stockpiles remain at historically high levels, while output remains firm.
The number of oil rigs operating in the U.S. rose for the fourth week in a row.
Baker Hughes data released Friday showed the U.S. oil rig count up 14 at 371 in the latest week.
The dollar index was slightly lower. A weaker dollar underpins demand for oil.

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