U.S. Oil Rig Count Slips By 2 to 450 -- Market Talk

1337 ET - The number of oil rigs operating in the U.S. fell for the first time in 13 weeks but is well above the year-earlier level, according to data from oil services company Baker Hughes. Oil rigs slipped by two this week to 450, which was 35 more than a year ago. Rigs directed at natural gas increased by one to 127, the most since mid-May and five more than a year ago. The rise in oil prices caused by the war in the Middle East has encouraged drilling and higher U.S. crude oil production. Following a slide in the second half of June, crude prices are back at six-week highs with the recent conflict escalation between the U.S. and Iran.(anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 24, 2026 13:37 ET (17:37 GMT)