U.S. oil & gas rig count falls by the most in a week since June 2020
U.S. energy firms this week cut...
U.S. energy firms this week cut the total number of oil and natural gas rigs by the most since June 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by 12 to 759 in the week to Feb. 3, the lowest since September.
Despite this week’s rig decline, Baker Hughes said the total count was still up 146 rigs, or 24%, over this time last year.
U.S. oil rigs fell 10 to 599 this week, their lowest since September, while gas rigsdropped by two to 158.
Stocks close lower Friday after a 'wow' jobs report puts Fed back in play
U.S. stock indexes finished lower on Friday after an unexpectedly...
U.S. stock indexes finished lower on Friday after an unexpectedly strong surge in January nonfarm payrolls reversed the Wall Street's perception that the end of the Fed's rate increases is near. The Dow Jones Industrial Average DJIA, -0.38% was off 128 points, or 0.4%, to end at 33,925, while the S&P 500 SPX, -1.04% declined by 1% and the Nasdaq Composite COMP, -1.59% dropped 1.6%. For the week, the S&P 500 booked a weekly gain of 1.6%. The Nasdaq rose 3.3%, booking its fifth consecutive weekly advance and the longest winning streak in over a year, thanks to strong earnings from some major tech companies. The Dow industrials erased its earlier gain and slipped 0.3% this week, according to Dow Jones Market Data.
