U.S. Oil Rig Count Up For First Time This Year

By Myra P. SaefongMarketWatch Pulse

The number of active U.S. rigs drilling for oil climbed as of July 2, according to data from Baker Hughes released Thursday. That marked the first weekly increase in 30 weeks. Data were released a day earlier because of Friday's holiday. The number of active oil drilling rigs saw a weekly climb of 12 to 640. The total active rig count, which includes natural-gas rigs, was at 862, up 3 from last week. Compared to last year, the total rig count has fallen by 1,012, with the oil rig count down 922. August crude was up 18 cents, or 0.3%, at $57.14 a barrel on the New York Mercantile Exchange. It traded around $57.43 before the data.

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