Oil extends decline after oil rig count data

Oil extended the decline to fresh 2-month lows after Baker Hughes reported US active oil-rig count rose last week.

US oil rig count climbed 14 to 371 in the week ending July 16, marking the fourth consecutive week of increases.

West Texas Intermediate for September fell to $43.71 a barrel, down by 2% on the day from $43.92/bbl before rig data.