Baker Hughes data reveal a 4th straight weekly rise in the U.S. oil-rig count

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 5 to 263 this week. That followed increases in each of the last three weeks. The total active U.S. rig count, which includes those drilling for natural gas, was also up by 8 to 346, according to Baker Hughes. January West Texas Intermediate crude continued to trade higher following the data, tacking on 55 cents, or 1.1%, to $48.91 a barrel on the New York Mercantile Exchange.

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