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Nymex oil scores third week of gains in a row

Saturday, 14 February 2015


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U.S. crude-oil futures on Friday scored a third straight weekly gain, with prices for the Brent contract marking their highest settlement of the year on the back of spending cuts by oil companies and further declines in the number of active U.S. oil rigs.

Crude for delivery in March CLH5, +2.81%  rose $1.57, or 3.1%, to settle at $52.78 a barrel—up about 2.1% for the week.

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