Baker Hughes Reports Sixth-weekly U.S. Oil-rig Climb In Seven Weeks

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures hold onto gains after data from Baker Hughes revealed a weekly climb in the number of active U.S. rigs drilling for oil--the sixth-weekly climb in seven weeks. The active U.S. oil-rig count rose 6 to 357 as of Friday. The total U.S. rig count climbed by 7 to 447. August crude was at $45.85 a barrel on the New York Mercantile Exchange, up 17 cents, or 0.4%, from Thursday's settlement. It's trading little-changed from the $45.82 level it was at before the data.

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