(MENAFN- ProactiveInvestors)
Recently improved crude prices have now reached levels that may begin to incentivise new drilling among US shale firms.
That’s reportedly the view of Wall Street’s Goldman Sachs and it came as last week’s American rig count which showed the week-on-week gauge of activity had decreased by just one measure.
Experts believe there could now be a change in attitude among US shale drillers and that could in turn see supplies from the region pick up again.
Accordingly crude prices pulled back and traders continue to be put off by the prospect of excess supply.
In London crude prices pulled back on Tuesday with Brent some 2% lower at US$64.20 while West Texas Intermediary crude was down 2.3% at US$58.50.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.