Oil Rises For Seventh Session, U.S. Stocks Rebound

Oil rose for a seventh straight session on Friday on a declining U.S. rig count and stronger demand data from China, while U.S. equities mostly rebounded to end a volatile week on an up-beat, helped by a double-digit jump in Nike shares.
The dollar recovered slightly but hawkish signals this week from the European Central Bank, Bank of England and Bank of Canada led the greenback to post its biggest quarterly decline against a basket of currencies in nearly seven years.
Among other contrasts, the euro rose 7 percent in its best quarter since 2010, while the benchmark S&P 500 and Dow industrial indices marked their best first half of the year since 2013 and gold notched its first monthly loss this year.
Oil rose after energy services company Baker Hughes [RIG/U] said U.S. drillers cut their rig count for the first time since January, while Chinese factories boosted output at their fastest pace in three months.
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