Analysts at ANZ explained that crude oil prices fell a touch as concerns over rising output weighed on the sector.
"Another strong jump in the rig count in the US saw WTI prices fall over 1%.
Baker Hughes data showed US drillers added another 14 rigs to bring the total to 631 currently operating.
Elsewhere, reports that Libya was about to reopen ports closed by military clashes also kept downward pressure on prices: Es Sider and Ras Lanuf are two of the country’s largest oil ports. Libya’s total production rose to 646kb/d from 621kb/d on Sunday due to rising output from Waha Oil Co. However, it needs the ports to reopen to get it to the market."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.