The Chicago Entrepreneur

Oil futures remain higher after rise in weekly rig count

Crude futures remained higher Friday after oil-field services company Baker Hughes said the number of U.S. oil rigs were up 13 from last week to 546. Compared to a year earlier, the number of oil rigs was up by 209. Baker Hughes said the number of gas rigs rose 3 from last week to 141, while miscellaneous rigs were unchanged at 2. Gas rigs were up 48 from a year ago. The U.S. offshore rig count was down 2 from last week to 12, up 1 year-over-year. West Texas Intermediate crude for May delivery was up 70 cents, or 0.7%, to $96.73 a barrel on the New York Mercantile Exchange.

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