Baker Hughes data show a weekly decline in active U.S. oil-drilling rigs

Baker Hughes BKR on Friday reported that the weekly number of active U.S. rigs drilling for oil fell three to 588 this week. The total active U.S. rig count, which includes those drilling for natural gas, declined by seven to 748, according to Baker Hughes. Oil prices continued to trade higher, with the June West Texas Intermediate crude contract CLM23 up $2.84, or 4.1%, at $71.40 a barrel on the New York Mercantile Exchange.

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