Xinhua, New York :
Oil prices continued to rally on Friday after data showed the number of active U.S. drilling rigs declined this week.
The number of rigs operating in U.S. oil fields fell by four to a total of 858 rigs this week, oilfield service firm Baker Hughes said in its weekly report on Friday.
A weaker U.S. dollar also made the dollar-priced commodity more attractive for holders of other currencies.
The dollar index, which measures the greenback against six major peers, decreased 0.68 percent to 94.662 at 3:00 p.m. (2000 GMT).
Meanwhile, the energy market has been reacting to threats from the Trump administration this week, who indicated that the White House would look to sanction countries that don’t reduce their imports of Iranian crude to “zero” by Nov. 4.
The West Texas Intermediate for August delivery rose 0.70 U.S. dollar to settle at 74.15 dollars a barrel on the New York Mercantile Exchange.
Oil prices continued to rally on Friday after data showed the number of active U.S. drilling rigs declined this week.
The number of rigs operating in U.S. oil fields fell by four to a total of 858 rigs this week, oilfield service firm Baker Hughes said in its weekly report on Friday.
A weaker U.S. dollar also made the dollar-priced commodity more attractive for holders of other currencies.
The dollar index, which measures the greenback against six major peers, decreased 0.68 percent to 94.662 at 3:00 p.m. (2000 GMT).
Meanwhile, the energy market has been reacting to threats from the Trump administration this week, who indicated that the White House would look to sanction countries that don’t reduce their imports of Iranian crude to “zero” by Nov. 4.
The West Texas Intermediate for August delivery rose 0.70 U.S. dollar to settle at 74.15 dollars a barrel on the New York Mercantile Exchange.
