Weekly U.S. Oil-rig Count Down By 2: Baker Hughes

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures continued to trade lower after data from Baker Hughes showed that the weekly number of active U.S. rigs drilling for crude fell by 2 to 316 as of Friday. The total U.S. rig count was unchanged at 404. July crude was at $49.22 a barrel on the New York Mercantile Exchange, down 26 cents, or 0.5%. It was trading at $49.24 before the data.

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