U.S. crude oil futures suddenly spiked more than 1 percent late Friday morning, erasing losses for the week.
West Texas Intermediate (WTI) oil futures traded 1.5 percent higher above $62 a barrel as of 11:41 a.m., ET.
The weekly Baker Hughes rig count is due at 1 p.m., ET.
Traders were not yet certain what was driving the gains.
Source: FactSet
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