The total number of active U.S. rigs drilling for oil climbed as of Friday, according to the latest data from Baker Hughes . The number of active oil drilling rigs saw a weekly rise of 21 to 659. The total active rig count, which includes natural-gas rigs, was at 876, up 19. Compared to last year, the total rig count has fallen by 1,007, with the oil rig count down 903. August crude was down 54 cents, or 1.1%, at $47.91 a barrel on the New York Mercantile Exchange. It was trading at $48.06 just 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