Baker Hughes data reveal a 7th straight weekly rise in the U.S. oil-rig count

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Baker Hughes
BKR,
-0.88%
on Friday reported that the number of active U.S. rigs drilling for oil rose by 8 to 275 this week. That followed increases in each of the last six weeks. The total active U.S. rig count, which includes those drilling for natural gas, was also up by 9 to 360, according to Baker Hughes. February West Texas Intermediate crude
CLG21,
+0.94%
continued to trade higher following the data, tacking on 94 cents, or nearly 1.9%, to $51.77 a barrel on the New York Mercantile Exchange.

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