US Drilling Rig Count Rises by Four to 599 in Baker Hughes Survey

Active U.S. oil and gas rigs rose by 4 to 599 for the week, marking a second consecutive weekly increase, according to Baker Hughes. The total count is up 50 rigs compared to the same period last year. Oil rigs increased by 3 to 455, natural gas rigs rose by 1 to 135, and miscellaneous rigs held steady at 9. Regionally, the Permian Basin added 1 rig to reach 270, while the Eagle Ford lost 1 to 50. Amid the report, WTI fell 2.63% to $92.12 and Brent dropped 2.60% to $103.83.