US crude ticks up 6 cents, settling at $51.90, boosted by Iraq conflict, drop in US rig count [CNBC]
Churchill Capital Corp V Class A (CCV)
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Source: CNBC
Lucy Nicholson | Reuters A pump jack and pipes at an oil field near Bakersfield, California. Oil prices were little changed on Monday amid signs of a decline in U.S. drilling rates and as supply disruptions in Iraq dented exports out of OPEC's second largest producer. Global benchmark Brent crude fell 39 cents to $57.36 a barrel by 2:28 p.m. ET (1828 GMT). U.S. West Texas Intermediate (WTI) crude ended Monday's session up 6 cents at $51.90. It seems like there's an awful lot of competing drivers ... and crude seems confused, said Stewart Glickman, head of energy research at CFRA Research in New York. Volatility has actually been tame and there's no sustained trend lately that can break us out of this $45-$55 a barrel range. The number of U.S. rigs drilling for new oil fell by seven to 736 in the week to Oct. 20, the lowest level since June, energy services firm Baker Hughes said on Friday. show chapters But an
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