Rig count increases for 10th straight week, oil prices continue to climb.

The number of U.S. rigs running rose by 16 in the last week as of Nov. 24. The count is up 18% in the last month, but down 52% year-over-year. According to Enverus, notable weekly increases included the Permian Basin (eight), Appalachia (five), Gulf Coast (three) and Williston Basin (one).

The number of operating rigs has surged since August, when it hit a record low of 244, according to Baker Hughes data going back to 1940. This was the 10th weekly increase in 11 weeks.

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