Oil pares losses after Baker Hughes reports a 4th straight weekly decline in the U.S. oil-rig count

/ / News

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil declined by five to 733 this week. That followed three consecutive weekly declines in the oil-rig count. The total active U.S. rig count, meanwhile, also fell by 12 to 886, according to Baker Hughes. October West Texas Intermediate crude was down 8 cents, or 0.2%, at $55.01 a barrel. It was trading lower for the session at $54.96 before the rig data.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.