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ENERGY

US oil rig count up for week ending June 12

The oil rig count in the US increased by 2 this week, according to the latest data released by oilfield services company Baker Hughes on Friday.

The number of oil rigs, an indicator of short-term production in the country, rose by 2 to 433 for the week ending June 12.

The number of US oil rigs decreased by 6 compared to one year ago.

The price of international benchmark Brent crude futures stood at $87.33 per barrel at Friday’s close, while American benchmark West Texas Intermediate (WTI) was at $84.88 a barrel.

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