Baker Hughes BKRon Friday reported that the number of active U.S. rigs drilling for oil fell by two to 590 this week. That followed declines in each of the past three weeks. The total active U.S. rig count, which includes those drilling for natural gas, declined by three to 746, according to Baker Hughes. Oil prices continued to trade higher, with the April West Texas Intermediate crude contract CLJ23 up $1.02, or nearly 1.4%, at $76.74 a barrel on the New York Mercantile Exchange.
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.