Oil steadies near 2-month high as U.S. drilling slows down [MSN Money]
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Source: MSN Money
Oil Steadies Near Two-Month High as U.S. Drilling Slows Down (Bloomberg) -- Oil steadied near a two-month high in New York amid a pullback in U.S. drilling activity, while ongoing U.S.-China trade talks left an uncertain outlook for demand. Futur rose 0. perct Monday after surging . perct on Friday. The number of rigs drilling for oil in the U.S. fell to the lowt since May, according to Baker Hugh data. China and America, the world’s biggt oil consumers, have made little progrs in talks on intellectual property, a major sticking point as they pursue a deal to d a tariff battle, according to people familiar with the discussions. © Bloomberg “The price volatility se over the latter part of last year certainly appears to have made producers hitant to pick up drilling activity,” said Warr Patterson, sior commoditi strategist at ING Bank NV. Oil is off to its bt start to a year since 00 after plunging almost 0 perct last quarter on fears of a global supply glut and weaker consumption. To c
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