Baker Hughes BKR on Friday reported that the number of active U.S. rigs drilling for oil fell by 11 to 575 this week. That marked a third straight week of declines in number of oil rigs. The total active U.S. rig count, which includes those drilling for natural gas, also declined by 11 to stand at 720, according to Baker Hughes. The number of active natural-gas drilling rigs was unchanged at 141. Oil prices traded slightly lower in Friday dealings, with June West Texas Intermediate crude contract CLM23 down 11 cents, or nearly 0.2%, at $71.75 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.