Oil holds sharp gain after Baker Hughes weekly rig count data show oil rigs jumped by 10 … MARKETWATCH
Oil holds sharp gain after Baker Hughes weekly rig count data show oil rigs jumped by 10
By MARK DECAMBRE
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil increased by 10 to 869 for the week, coming after the report showed a decline of 2 in the earlier period.
September West Texas Intermediate crude traded at $67.55 a barrel, up 75 cents, or 1.1%, in Friday action, little changed from trade prior the report.
The total active U.S. rig count, which includes oil and natural-gas rigs, increased by 13 to 1,057 from 1,044, according to Baker Hughes.