Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by seven to 670 this week. That followed a decline of eight oil rigs in the previous week. The total active U.S. rig count, meanwhile, was down nine from last week at 796, according to Baker Hughes. Oil prices continued to rise on the back of heightened U.S.-Iran tensions, with February West Texas Intermediate crude up $1.48, or 2.4%, at $62.66 a barrel.
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.
Go to Source
[recent_post_carousel slides_to_show=”3″ slides_to_scroll=”1″]