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ENERGY

US oil rig count up for week ending June 26

The oil rig count in the US increased by 7 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 7 to 440 for the week ending June 26.

The number of US oil rigs increased by 8 compared to one year ago.

The price of international benchmark Brent crude futures stood at $72.6 per barrel at Friday’s close, while American benchmark West Texas Intermediate (WTI) was at $69.23 a barrel.

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