Crude oil prices fell on Friday

International benchmarks for oil prices edged lower on Friday (18 March) as Baker Hughes Inc. data showed an increased in the number of active oil rig in the US and stronger US dollar weighted down on the oil market. Analysts believed that very much of the last week's rally was because of the growing optimism that major oil producers could reach an output freeze agreement without Iran and the US Federal Reserve appeared to favour a less aggressive path in lifting key interest rate this year. Many industry experts said that the current rally would not be sustainable and market might turn south in Sept due to lower driving demand and maintenance shutdown season at refineries.

WTI closed at   $39.44/b (-$0.76)
Brent closed at $41.20/b (-$0.34)

Kindly visit the Daily Price section for the latest import and local prices to/in China and Southeast Asia market.