Baker Hughes Data Show U.S. Oil-rig Count Up By 12

By Myra P. Saefong Markets MarketWatch Pulse

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil climbed by 12 to 510 rigs this week. That's the highest level since January, according to Citi Futures' Tim Evans. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 13 to 637, according to Baker Hughes. Prices for oil held onto their earlier gains after the rig data. January crude was up 88 cents, or 1.7%, at $51.78 a barrel on the New York Mercantile Exchange.

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