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The one report for markets Friday

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Bubbling oil prices — up 23 percent in 15 days — will be a focus Friday as traders watch the latest U.S. rig count data for more signs that U.S. production could pick up with rising crude prices.

The rapid rise in oil prices defies many analysts' expectations, but it has been driven in part by comments from OPEC members and other producers about a meeting in late September that could involve discussion on freezing production or other actions.

U.S. West Texas Intermediate crude futures on Thursday finished up 3 percent at $48.22 after touching a session high of $48.38, the highest since July 5. Stocks have been supported by the gains in oil, but the market was flattish Thursday. The rose 4 points to 2,187.