Baker Hughes Inc. reported that the number...

Baker Hughes Inc. reported that the number of working oil and gas rigs plunged by 45 this week to total 897, marking the largest single-week decline since February. The sharp drop continues a seesaw turned in the volatile energy industry, but contradicts a traditional year-end increase, said Baker Hughes spokesman Ike Kerridge. “We don’t have any explanation for this, except to say that it’s probably the result of uncertain crude prices,” Kerridge said. A year ago the count was 1,174, the Houston-based company said. The count is a widely watched industry index of drilling activity.