Here comes the Baker Hughes rig count ...

The latest data on oil rigs in use is set for release from driller Baker Hughes at the top of the hour.

Last week, the rig count rose by 7 to 381, the highest total since March 18.

The rig count has been steadily ticking higher in recent weeks amid what had been a bit of recovery in oil prices through the spring, though last week the price of oil fell below $40 briefly for the first time in months.

On Friday ahead of the rig count, oil prices were up over 2% to north of $44 a barrel.

We’ll be back with the live numbers when they cross.

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