Futures Movers: Oil edges back after IEA monthly report, but crude set for sharpest weekly rise in a month

U.S. crude-oil futures on Friday headed slight lower, pulling back after four days of consecutive gains that put crude on pace for its best weekly gain in about a month, amid growing signs of tightening global supplies.

April West Texas Intermediate crude CLJ9, -1.11% shed 28 cents, or 0.5%, to $58.33 a barrel on the New York Mercantile Exchange, after settling at its highest level since mid-November on Thursday, according to FactSet data. WTI was set for a weekly gain of about 4% based on the most-active contract’s week-ago settlement, which would mark its sharpest weekly rise since the period ended Feb.

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