Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1327 ET – The number of rigs drilling for oil in the U.S. rose by two last week to 500, which was 121 fewer than a year earlier, oil services company Baker Hughes reports. The decline in the number of rigs hasn’t kept U.S. crude oil production from reaching a record-high 13.3 million barrels a day in recent weeks, thanks in part to drilling and fracking efficiencies. Rigs drilling for natural gas are unchanged from the previous week at 120, and down by 36 from a year ago, Baker Hughes says. Oil prices are steady in the last trading day of the year, with WTI for February up 0.2% at $71.93 a barrel but on track for about a 10% annual loss. Natural gas prices continue to struggle with mild weather curbing demand, and are off 1.1% at $2.529/mmBtu for February delivery. (anthony.harrup@wsj.com)