Baker Hughes Reports Rise In Weekly U.S. Oil-rig Count

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures traded nearly flat for the session Wednesday after data from Baker Hughes revealed that the number of active U.S. rigs drilling for oil climbed by 3 to 474 rigs this week. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose 5 to 593, according to Baker Hughes. The data came ahead of the usual Friday release because of Thursday's Thanksgiving holiday. December crude was up a penny at $48.04 a barrel on the New York Mercantile Exchange.

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