Baker Hughes reports biggest weekly rise in U.S. oil-drilling rig count in a month

Baker Hughes BKR, +2.45% on Friday reported that the number of active U.S. rigs drilling for oil was up by eight to 527 this week. That was the biggest one-week gain since the week ended Feb. 11, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by 13 to 663, according to Baker Hughes. Oil prices continued to rally in Friday dealings, finding continued support from supply concerns in the wake of the Russia -Ukraine war. April West Texas Intermediate crude CLJ22, +2.90% was up $2.66, or 2.5%, at $108.68 a barrel on the New York Mercantile Exchange.