Oil Prices Hold Gains As Baker Hughes Reports 11th Weekly Fall In U.S. Oil Rig Count

By Markets MarketWatch Pulse

Oil prices held gains after data Friday from Baker Hughes showed that the number of active U.S. oil-drilling rigs fell for an 11th week in a row, down by 8 to 392 as of Friday. The total active U.S. rig count, which includes natural-gas rigs, was down 13 at 489. The lowest count for total U.S. rigs was 488 from April 23, 1999, according to Baker Hughes data. April crude was at $35.68 a barrel on the New York Mercantile Exchange, up $1.11, or 3.2%. It traded at $35.80 before the data.

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