Oil prices slipped on Friday

International benchmarks for oil prices moved lower on Friday (23 July) as data showing an increase in US petroleum drilling activity added to worries about excess supply. Baker Hughes on Friday reported the number of active oilrigs in the US rose by 14 in the past week to 371, marking the fourth straight week of increases. Meanwhile, refiners around the world are running at high operation rate, creating fear over a global gasoline excessive supply.

WTI closed at $44.19/barrel (-$0.56) September delivery

Brent closed at $45.69/barrel (-$0.51) September delivery