Here comes the Baker Hughes rig count ...

Oilfield-services company Baker Hughes will release its weekly count of US oil and gas rigs at the top of the hour.

Last week, the tally did not increase for the first time in nine weeks. The rebound in the count that preceded that flattening came as crude oil approached $50 per barrel and some producers became more confident in the industry's outlook.

The total rig count last week was 489, as gas rigs fell by 2 to 81.

West Texas Intermediate crude oil is headed for its worst week since March, even amid a 3% rebound on Friday. Futures tanked on Wednesday after the Energy Information Administration reported a greater-than-expected build in US inventories.

Futures traded near $44.48 per barrel ahead of the rig-count release.

More to come ...

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