Baker Hughes Reports a Fourth Consecutive Weekly Rise In U.S. Oil-rig Count

By Myra P. Saefong Markets MarketWatch Pulse

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil rose by 8 to 591 rigs this week. That marked the fourth weekly increase in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 12 to 741, according to Baker Hughes. March West Texas Intermediate crude held onto earlier gains after the figures, trading up 90 cents, or 1.7%, at $53.90 a barrel on the New York Mercantile Exchange.

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