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Oil prices unfazed by another weekly rise in U.S. oil-rig count

Baku, June 17, AZERTAC

Baker Hughes BHI, +1.72% on Friday reported that the number of active U.S. rigs drilling for oil climbed by 6 to 747 rigs this week. That marked a 22nd weekly rise in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 6 to 933, according to Baker Hughes. Oil prices showed little reaction to the data, with July West Texas Intermediate crude CLN7, +0.49% up 19 cents, or 0.4%, at $44.65 a barrel on the New York Mercantile Exchange, unchanged from the levels it traded at before the data.

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