Crude futures fall on rise in US oil-rig count

Source: Marketwatch
© Scanpix/AFP
Crude-oil prices declined on Friday on US oil production and rig count increased. The New York-traded Crude futures fell 0.7% to $56.54 a barrel, while the London-traded Brent Crude futures slipped 0.7% to $62.13 a barrel by 9:00 AM GMT. The US oil-rig count increased for the first time in 29 weeks, as in the past week oil-rig figure increased by 12 to 640. Oil production in the US and in the OPEC countries continued to rise. 
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