Baker Hughes on Thursday reported that the number of active U.S. rigs drilling for oil was up by two to 548 this week. That followed increases in each of the previous three weeks, Baker Hughes data show. The data were released a day this week early because most financial markets are closed on Good Friday. The total active U.S. rig count, which includes those drilling for natural gas, climbed by four at 693, according to Baker Hughes. Oil prices continued to move higher. May West Texas Intermediate crude was up $1.25, or 1.2%, at $105.50 a barrel on the New York Mercantile Exchange.
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