Baker Hughes Data Show U.S. Oil-rig Count Up By 8

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 617 rigs this week. That marked an eighth weekly increase in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 12 to 768, according to Baker Hughes. April West Texas Intermediate crude was down 80 cents, or 1.6%, at $48.48 a barrel on the New York Mercantile Exchange. Prices had fallen to intraday lows under $48.40 just minutes ahead of the data.

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