Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil edged down by 1 to 764 rigs this week. The oil-rig count had previously tallied a two-week rise of 9 rigs. The total active U.S. rig count, which includes oil and natural-gas rigs, was also down 2 at 950, according to Baker Hughes. September West Texas Intermediate crude pared some of their earlier declines. It was down $1.08, or 2.3%, at $45.84 a barrel on the New York Mercantile Exchange, off a low of $45.71. It traded at $45.75 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News