Baker Hughes Reports U.S. Oil-rig Count Down Eighth Straight Week

Oil futures continued to trade lower after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 10 to 318 as of Friday. The oil-rig count has now fallen for eight weeks in a row. The total U.S. rig count fell 9 to 406. June crude was at $46.13 a barrel on the New York Mercantile Exchange, down 57 cents, or 1.2%. It was trading at $46.06 before the data.

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