Baker Hughes Reports Fourth-weekly Climb In 5 Weeks For U.S. Oil-rig Count

Oil futures moved narrowly lower after Baker Hughes data showed that the weekly number of active U.S. rigs drilling for crude rose 11 to 341 as of Friday. The count fell last week, but rose in each of the three weeks before that. The total U.S. rig count climbed by 10 to 431. August crude was at $48.31 a barrel on the New York Mercantile Exchange, down 2 cents from Thursday's settlement. It was trading higher at $48.41 before the data.

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