image: Nick Oxford / Reuters

Oil rises on lower US drilling activity, but rising Russia output weighs

April 2, 2018

Oil prices rose on Monday, lifted by a drop in drilling activity in the United States as well as by expectations that Washington could re-introduce sanctions against Iran.

U.S. WTI crude futures were at $65.20 barrel at 0657 GMT, up 26 cents, or 0.4 percent, from their previous settlement.

Brent crude futures were at $69.78 per barrel, up 44 cents, or 0.6 percent.

Shanghai September crude futures were at 416.7 yuan ($66.39) per barrel, up 1.1 percent.

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