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Futures Movers: U.S. oil ends nearly flat, as Brent declines, but both benchmarks tally fourth weekly climb in a row

U.S. oil prices ended nearly flat on Friday and global crude finished lower, as the market continued to question the ability of the world’s major producers to make up for losses of Iranian crude exports tied to pending U.S. sanctions.

Still, both crude benchmarks tallied a fourth weekly advance in a row. Both had marked their highest settlements in nearly four years on Wednesday.

November West Texas Intermediate crude CLX8, +0.03% the U.S. benchmark contract, tacked on a penny to settle at $74.34 a barrel on the New York Mercantile Exchange. It settled at a nearly four-year high of $76.41 on Wednesday, but notched its biggest one-day percentage decline since mid-August on Thursday.

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