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U.S. oil futures gain for the session, drop 3.8% for the week

U.S. oil prices completed higher on Friday, trimming their loss for the week all the way down to not up to four%, as traders weighed pressure from an expected upward push in Libya exports in opposition to reinforce from indicators of tighter international provides. August West Texas Intermediate crude CLQ8, +zero.36% added 68 cents, or 1%, to settle at $71.01 a barrel at the New York Mercantile Exchange. It misplaced about 3.eight% for the week, in line with FactSet knowledge.

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Oil prices upward push, however post sharp weekly loss amid expectancies for rising Libyan output

Oil prices climb on Friday, however post sharp losses for the week, as traders weigh concerns over resurgent Libyan supply and international industry disputes in opposition to indications of tighter crude supply and shrinking spare output capability.