Oil prices gain more ground as U.S. oil-rig count falls a fifth week
Oil futures gained more ground after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 8 to 343 as of Friday, down a fifth straight week. The total U.S. rig count fell 9 to 431. June crude was at $43.72 a barrel on the New York Mercantile Exchange, up 54 cents, or 1.3%. It was trading at $43.60 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.