Brent and WTI are set to post a more than 4% gain this week
The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday.
WTI crude futures shed more than 3% on Thursday morning
Crude oil prices began the new week with a loss earlier today, with a renewed focus on demand in China and the United States weighing on benchmarks.
Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.
The total number of active drilling rigs in the United States rose by 1 this week, according to new data from Baker Hughes published Friday.