Investor Alert

Sept. 24, 2021, 1:07 p.m. EDT

Baker Hughes data show U.S. oil-drilling rigs up a third week in a row

Baker Hughes (NYS:BKR) on Friday reported that the number of active U.S. rigs drilling for oil climbed by 10 to 421 this week. That followed increases in each of last two weeks as a recovery in Gulf of Mexico energy operations continues in the wake of Hurricane Ida, which made landfall on the Gulf Coast nearly four weeks ago. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by nine to stand at 521, according to Baker Hughes. November West Texas Intermediate crude continued to trade higher, with the contract up 82 cents, or 1.1%, to $74.12 a barrel on the New York Mercantile Exchange.

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