Crude-oil futures edged higher in Asian trade Monday, after data released over the weekend showed a further decline in the number of oil rigs operating in the U.S., a sign producers are making some effort to cut back supply amid low prices. Light, sweet crude futures for delivery in October traded at $45.05 a barrel at 0359 GMT on the New York Mercantile Exchange, up $0.36 in the Globex electronic session. November Brent crude on London’s ICE Futures exchange rose $0.38 to $47.85 a barrel. Over the weekend, a Baker Hughes report indicated the U.S. oil-rig count fell by eight to 644 in the last reporting week, the third-straight weekly decline. The rig count is seen as an indicator of future oil production, and is closely watched by market participants given the importance of U.S. supply to global oil balances. Last week, data from the […]