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



Baker Hughes

on Friday reported that the number of active U.S. rigs drilling for oil climbed by seven to 401 this week. The follows a drop of 16 oil rigs last week, which marked the largest weekly decline so far this year and followed evacuations in the Gulf of Mexico due to Hurricane Ida. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by six to stand at 503, according to Baker Hughes. October West Texas Intermediate crude

continued to trade higher, with the contract up $1.44, or 2.1%, to $69.58 a barrel on the New York Mercantile Exchange.

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