BUSINESSJun 6 · 20:44 UTCFORTUNEEmma Sanchez, Bloomberg

Oil drilling rises in longest U.S. streak since 2022 on price bump

US oil drilling has increased for six consecutive weeks, the longest streak since mid-2022, driven by higher crude prices linked to the Iran war. Rigs rose to 431 as oil prices surged 35% since late February, averaging $98 a barrel.

Nexus surfaces and summarizes. The full story lives at the source.

Mentioned

Baker Hughes Co.organizationIran wartopicUS oil fieldsplaceshale drillerstopicbenchmark US crude futurestopicFortune.comorganization

Spot something wrong with this article?Report a problem →

Forward this

Related Signal

Adjacent reporting

BUSINESSApr 16 · 13:53 UTC
Wall Street holds at its record high even as oil prices climb
BUSINESSApr 30 · 12:04 UTC
Oil prices hit highest level since Iran war's start
SECURITYApr 30 · 06:32 UTC
Oil tops $125 a barrel, highest price since Ukraine invasion, as 'Trump plans more Iran strikes' - Live updates
WORLDApr 29 · 14:51 UTC
Oil price jumps to $117 after reports of 'extended' Iran blockade
BUSINESSMay 7 · 06:49 UTC
Shell profits rise as Iran war pushes oil prices higher
BUSINESSApr 29 · 12:46 UTC
US gas prices hit $4.23 high as Hormuz fears drive oil surge