Baker Hughes reports a second straight weekly rise in the U.S. oil-drilling rig count

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Baker Hughes BKR, +0.27% on Friday reported that the number of active U.S. rigs drilling for oil was up by four to 584 this week. That followed an increase of six 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 seven to 740, according to Baker Hughes. Oil prices continued to trade sharply lower. June West Texas Intermediate crude CLN22, -6.05% was down $7.77, or 6.6%, at $109.82 a barrel on the New York Mercantile Exchange.

This article was originally published by Marketwatch.com. Read the original article here.

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