Oil Futures Pare Gains After Data Show 7th Straight Weekly Rise In The U.S. Oil-rig Count

By Markets MarketWatch Pulse

Oil futures pared their gains Friday after data from Baker Hughes showed that the number of active U.S. rigs drilling for oil rose for a seventh straight week. The U.S. oil-rig count climbed by 15 to 396 as of Friday. The active U.S. oil-rig count also increased by 17 to 481. September crude was at $44.10 a barrel on the New York Mercantile Exchange, up 61 cents, or 1.4%, from Thursday's settlement. It traded at $44.34 before the data.

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