Oil futures remained lower on Friday after data from Baker Hughes revealed that the number of active U.S. rigs drilling for oil fell by 2 to 441 rigs this week. That marks the first weekly decline since June. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 4 to 557, Baker Hughes said. December crude fell 54 cents, or 1.1%, to $49.17 a barrel on the New York Mercantile Exchange, trading close to the same level it was at before the rig 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