Baker Hughes reports the biggest weekly rise in U.S. oil-drilling rigs since mid-October

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Baker Hughes BKR, -0.56% on Friday reported that the number of active U.S. rigs drilling for oil rose by six to 450 this week. That was the biggest increase since the week ended Oct. 15, Baker Hughes data show, though the latest weekly climb followed a slight rise of just one oil rig last week. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by six to stand at 550, according to Baker Hughes. December West Texas Intermediate crude CLZ21, +2.99% continued to trade sharply higher, up $2.40, or 3.1%, at $81.21 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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