Baker Hughes Reports Fifth Weekly U.S. Rig-count Rise In 6 Weeks

By Markets MarketWatch Pulse

Oil futures ticked modestly higher Friday even as Baker Hughes data showed that the weekly number of active U.S. rigs rose a fifth time in the past six weeks. The weekly number of active U.S. rigs drilling for crude oil rose 10 to 351 as of Friday, marking a second straight weekly rig-count climb. The total number of rigs, including those drilling for gas, climbed 9 to 440 rigs. August crude rose 39 cents, or 0.9%, to $45.54 a barrel on the New York Mercantile Exchange, extending its gains in the session.

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