Oil Caps Biggest Weekly Drop Since March as Rigs Advance

Oil declined the most since March as a rebound in U.S. drilling added to signs that producers will keep pumping into an oversupplied market.

Both Brent crude and West Texas Intermediate dropped more than 4 percent for the week as Baker Hughes reported Thursday that the number of active rigs seeking oil climbed by 12 to 640. It was the first gain since December. With four days left to resolve nuclear talks in Vienna, Iran was said to be pushing for accelerated sanctions relief, which may push more crude into the world market.