Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 5 to 763 rigs this week. The total active U.S. rig count, which includes oil and natural-gas rigs, also declined by 3 to 946, according to Baker Hughes. Oil prices added a bit more to earlier gains, with September West Texas Intermediate crude up $1.34, or 2.9%, for the session at $48.43 a barrel on the New York Mercantile Exchange. It traded at $48.38 before the data.
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