U.S. Oil-rig Count Posts Another Weekly Climb, Up 21 Weeks In a Row

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 8 to 741 this week. That marked a 21st weekly rise in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, increased by 11 to 927, according to Baker Hughes. Traders showed little reaction to the data, with July West Texas Intermediate crude up 31 cents, or 0.7%, at $45.95 a barrel on the New York Mercantile Exchange, nearly unchanged from $45.97 before the data.

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