Baker Hughes data show active U.S. oil rigs up a 12th straight week

Baker Hughes
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on Friday reported that the number of active U.S. rigs drilling for oil rose by 7 to 306 this week. That followed increases in each of the last 11 weeks. The total active U.S. rig count, which includes those drilling for natural gas, was up by 5 at 397, according to Baker Hughes. March West Texas Intermediate crude
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held onto their gains following the data, up $1.36, or 2.3%, to $59.60 a barrel on the New York Mercantile Exchange.