U.S. Weekly Oil-rig Count Falls a 7th Straight Week: Baker Hughes

By Mark DeCambre Markets MarketWatch Pulse

Oil futures extended gains after data from Baker Hughes Inc. showed that the number of active U.S. rigs drilling for crude fell for a seventh straight week. The oil rig count was down by 4 to 328 as of Friday. The total U.S. rig count fell by 5 to 415 rigs. June crude traded up 46, cents, or 1% to $44.77 a barrel on the New York Mercantile Exchange.

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