Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by two to 522 this week. That followed a climb of 4 oil rigs the week before, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by five to 650, according to Baker Hughes. Oil prices continued to trade lower in Friday dealings, giving back some of the gains seen in the wake of the Russian invasion of Ukraine. April West Texas Intermediate crude was down $2.14, or 2.3%, at $90.67 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.
