Oil Prices Gain More Ground As U.S. Oil-rig Count Falls a Fifth Week

By Markets MarketWatch Pulse

Oil futures gained more ground after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 8 to 343 as of Friday, down a fifth straight week. The total U.S. rig count fell 9 to 431. June crude was at $43.72 a barrel on the New York Mercantile Exchange, up 54 cents, or 1.3%. It was trading at $43.60 before the data.

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