Baker Hughes published its Friday rig count today. U.S. rigs count declined by nine rigs from last week to a total of 406. The count is down 482 rigs from this date last year. The rig count for Canada stands at 43, up seven from last week, down 34 from last year at this time.
June West Texas Intermediate crude fell 49 cents, or 1.1%, to settle at $46.21 a barrel on the New York Mercantile Exchange, according to MarketWatch. Prices were trading around $46.06 shortly before the rig count figures. For the week, they finished roughly 3.5% higher. WTI oil posted a decline last week, but saw gains in each of the four weeks before that.
Chart: MarketWatch
