U.S. Weekly Oil-rig Count Falls a 7th Straight Week: Baker Hughes

Oil futures extended gains after data from Baker Hughes Inc. showed that the number of active U.S. rigs drilling for crude fell for a seventh straight week. The oil rig count was down by 4 to 328 as of Friday. The total U.S. rig count fell by 5 to 415 rigs. June crude traded up 46, cents, or 1% to $44.77 a barrel on the New York Mercantile Exchange.

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