Published April 15, 2016 1:16pm EDT | Updated April 15, 2016 2:40pm EDT

Oil Prices Pare Loss As Weekly U.S. Oil-rig Count Falls

Oil futures pared some of their losses after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 3 to 351 as of Friday. Meanwhile, the total U.S. rig count fell 3 to 440. May crude futures were at $40.58 a barrel on the New York Mercantile Exchange, down 92 cents, or 2.2%. It was trading as low as $40.30 before the data.