Baker Hughes Data Show U.S. Oil-rig Count Edged Higher This Week

By Myra P. Saefong Markets MarketWatch Pulse

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 5 to 688 rigs this week. That marks a fourteenth weekly climb in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, also climbed by 10 to 857, according to Baker Hughes. June West Texas Intermediate crude fell $1.40, or 2.8%, at $49.34 a barrel on the New York Mercantile Exchange for the session, but it was trading close to that level before the data.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.