Baker Hughes Reports Fourth-straight Weekly Climb In U.S. Oil-rig Count

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures continue their decline Friday after after data from Baker Hughes revealed a weekly climb in the number of active U.S. rigs drilling for oil-the fourth increase in a row. The active U.S. oil-rig count rose 14 to 371 as of Friday. The total U.S. rig count climbed by 15 to 462. September crude was at $43.94 a barrel on the New York Mercantile Exchange, down 81 cents, or 1.8%, from Thursday's settlement. It traded at $43.92 before the data.

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