Baker Hughes data reveal a weekly decline in the U.S. oil-rig count
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 8 to 877 this week. That followed two straight weeks of gains. The total active U.S. rig count, which includes oil and natural-gas rigs, also fell by 8 to 1,075, according to Baker Hughes. February West Texas Intermediate crude was up 93 cents, or 2%, at $48.02 a barrel from Thursday's finish. Prices traded at $47.91 before the rig data Friday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.