Weekly oil drilling rig count down 13: Baker Hughes
Oil futures pared losses after data from Baker Hughes released Friday showed that the number of active oil-drilling rigs fell 13 to 662 as of Sept. 4. The total active rig count, which includes natural-gas rigs, was at 864, also down 13 rigs. Compared to last year, the total rig count has fallen by 1,061, with the oil rig count down 922. Oct. crude fell 27 cents, or 0.6%, to $46.48 a barrel on the New York Mercantile Exchange. It was trading at $46.02 just before the data.
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.