Saudi oil output rises in June. The U.S. drillers add 5 oil rigs in the week to July 6. South Korea reportedly stops importing oil from Iran. After rising more than $10 in the previous two weeks, the barrel of West Texas Intermediate struggled to make a decisive move in either direction this week. Following a drop to a fresh weekly low at $72.14 earlier today, the barrel of WTI stages a recovery in the second half of the day and was last seen trading at $73.50, adding 0.75% on a daily basis. For the week, the barrel of WTI is virtually unchanged. Saudi Arabia announced a price reduction on it August delivery oil and reported that it increased production by almost 500,000 barrels per day in June. “The more that Saudi Arabia adds to the market, the less of a supply cushion we have – that’s a bullish twist to a bearish development,” Bob Yawger, director of energy futures at Mizuho in New York, told Reuters. On another development from earlier today, South Korea, one of Iran’s biggest oil buyers in Asia, decided to reject all shipments of Iranian crude and condensate until at least September. Meanwhile, the weekly report published by Baker Hughes showed that drillers in the United States added five more oil rigs to bring the total count up to 863 from 858 a week ago. Technical outlook: Crude Oil WTI: Black Gold pushes back above $73.00 a barrel FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD poised to end week higher with eyes on Brexit plans FX Street 4 years Saudi oil output rises in June. The U.S. drillers add 5 oil rigs in the week to July 6. South Korea reportedly stops importing oil from Iran. After rising more than $10 in the previous two weeks, the barrel of West Texas Intermediate struggled to make a decisive move in either direction this week. Following a drop to a fresh weekly low at $72.14 earlier today, the barrel of WTI stages a recovery in the second half of the day and was last seen trading at $73.50, adding 0.75% on a daily basis. For the week, the barrel of WTI… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.