Crude-oil futures remained under pressure Friday after oilfield-services firm Baker Hughes reported that the number of active U.S. oil rigs rose by seven this week to 381–the sixth consecutive weekly increase. West Texas Intermediate oil for September delivery on the New York Mercantile Exchange was off 48 cents, or 1.1%, at $41.45 a barrel. The number of rigs remains down 289 from a year ago. The rebound in the number of rigs over the last six weeks, however, has added to worries about a global glut of crude. Oil futures sank to a three-month low below $40 a barrel earlier this week and entered a bear market before rebounding Wednesday and Thursday in the wake of a drop in gasoline inventories. The U.S. oil benchmark is on track for a 0.4% weekly decline.
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