U.S. Oil-rig Count Climbs, Up 11 Out Of The Last 12 Weeks

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures fell, abandoning a modest move higher in volatile trading Friday, after data from Baker Hughes revealed that the number of active U.S. rigs drilling for oil climbed by 19 to 471 rigs this week. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose 20 to 588, Baker Hughes said. December crude was down 32 cents, or 0.7%, at $45.12 a barrel on the New York Mercantile Exchange. It was trading at $46.13 before the rig data.

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