Baker Hughes reports a 5th straight weekly rise in the number of active U.S. oil-drilling rigs

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by 2 to 597 this week. That follows increases in each of the last four weeks. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by 2 to 752, according to Baker Hughes. Oil prices continued to trade higher. August West Texas Intermediate crude was up $1.66, or 1.6%, at $104.39 a barrel on the New York Mercantile Exchange.

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