Baker Hughes BKR on Friday reported that the number of active U.S. rigs drilling for oil fell by 2 to 494 this week. That followed a decline of 8 oil rigs last week. The total active U.S. rig count, which includes those drilling for natural gas, also declined by 2 to stand at 616, according to Baker Hughes. Oil prices continued to trade higher in Friday dealings, with December West Texas Intermediate crude CLZ23 up $1.83, or 2.4%, at $77.57 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.