Oil Recoups Some Of Its Recent Loss; Strong U.S. Output Remains a Key Concern

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices rose Thursday, recouping only small portion of the more than 2% decline they saw as strong U.S. crude output remained a key concern. The energy market will get a weekly update on the number of active U.S. rigs drilling for oil on Friday. August WTI crude tacked on 21 cents, or 0.5%, to settle $42.74 a barrel on the New York Mercantile Exchange following two straight sessions of declines.

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