U.S. Oil-rig Count Rises For a 19th Straight Week, But Rise Is Modest

By Myra P. Saefong Markets MarketWatch Pulse

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by 2 to 722 rigs this week. That marked a 19th weekly rise in a row, but the increase was the smallest weekly rise of the year. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 7 to 908, according to Baker Hughes. Oil prices appeared unfazed in the wake of the data. July West Texas Intermediate crude was up 62 cents, or 1.3%, to $40.52 a barrel on the New York Mercantile Exchange, unchanged from where it traded before the data.

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