Oil Slides Toward Session Lows After Rise In U.S. Rig Count

By MarketWatch Pulse

The number of U.S. oil rigs rose by 6 to a total of 670 this week, oil-services firm Baker Hughes said Friday in a weekly report. Nymex West Texas Intermediate crude-oil futures for September delivery , which were already in negative territory, slumped back toward the session low, trading at $43.99 a barrel, down 67 cents, or 1.5%. Baker Hughes said the total U.S. rig count rose by 10 to 884, with gas rigs up by 4 to 213 and miscellaneous rigs unchanged at 1.

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