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Oil gains for the day, falls for the week; natural gas tallies weekly rise of 7.5%

“Oil rose Friday, as a modest rise in the U.S. oil-rig count from Baker Hughes BHGE, -1.16% fueled expectations that drilling activity has stabilized” writes Markets Commodities Reporter for Prices had traded lower for much of the session, and still lost roughly 1.5% for the week on lingering concerns over the global glut of crude supplies.Natural gas, meanwhile, tallied a weekly gain of 7.5%–the biggest such rise of the year–after U.S. supplies rose less than expected.September WTI crude CLU7, +0.47% climbed 23 cents, or 0.5%, to settle $48.82 a barrel on the New York Mercantile Exchange.

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