Oil futures pared some of their gains Friday after data from Baker Hughes revealed that the number of active U.S. rigs drilling for oil edged up by 1 to 407 rigs in the latest week. The total active U.S. rig count, which includes oil and natural-gas rigs, rose by 8 to 497, Baker Hughes said. October crude was at $44.35 a barrel on the New York Mercantile Exchange, up $1.19, or 2.8%, from Thursday's settlement. It traded around $44.46 before the rig data.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below