Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 10 to 594 this week. That was the biggest weekly rise since the week ended May 20, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 753, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $2.35, or 2.3%, at $106.62 a barrel on the New York Mercantile Exchange.
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