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NYMEX and Brent hold weaker in Asia

On Friday, crude prices held weaker in Asia because rig count data in American is due later in the day with traders watching to see if activity keeps displaying gains.

October delivery NYMEX crude futures dropped 0.57%, being worth $43.66 per barrel, while in London, November delivery Brent futures eased 0.54%, trading at $46.34 per barrel.

The previous week, Baker Hughes informed that American drillers added crude rigs for a tenth straight week.

Overnight, crude prices fluctuated close to a two-week minimum during North American hours on Thursday, because a planned resumption of crude exports by Nigeria and Libya added to worries over a global supply glut.

At the same time, crude traders kept weighing prospects that key crude producing nations are on the verge of freezing output to back the market during their next meeting later this month.

The OPEC, led by Saudi Arabia as well as other big Middle East crude exporters, are going to meet non-OPEC producers headed by Russia at informal negotiations in Algeria between September 26 and 28.

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