Myra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Baker Hughes BKR, +0.37% on Friday reported that the number of active U.S. rigs drilling for oil rose by 4 to 501 this week. That followed three consecutive weeks of declines. The total active U.S.
rig count, which includes those drilling for natural gas, also climbed by 3 to stand at 622, according to Baker Hughes. Oil prices continued to trade higher in Friday dealings as worsening developments in the Israel-Gaza war raised the risk of disruptions to the oil market in the Middle East. November West Texas Intermediate crude CLX23, +5.15% was up $4.38, or 5.3%, at $87.29 a barrel on the New York Mercantile Exchange.
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