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Futures Movers: Oil ends lower but holds on to weekly gain as U.S. rig count rises

Oil futures ended lower Friday, as investors booked a profit after a day after a surprise reading on U.S. stockpiles helped lift the domestic crude benchmark to its highest close in more than a year and a half.

Crude maintained losses after data showed a further rise in U.S. oil rigs, but ended the week with modest gains..

Light, sweet crude futures for delivery in April CLJ7, -0.79% fell 46 cents, or 0.8%, to close at $53.99 a barrel on the New York Mercantile Exchange. On Thursday, it ended at its highest level since July 2015.. April Brent crude LCOJ7, -0.95% on London’s ICE Futures exchange dropped 59 cents, or 1%, to settle at $55.99 a barrel.

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