Oil Futures Gain For a 9th Week In a Row

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Oil futures settled lower on Friday, but still tallied a gain for the week, their 9th in a row. Concerns over a supply glut in the market pressured prices on the New York Mercantile Exchange, but weakness in the U.S. dollar and a 23rd straight weekly decline in the number of active U.S. oil rigs helped cut losses. June crude fell 19 cents, or 0.3%, to settle at $59.69 a barrel. Based on the most-active contracts, prices rose 0.5% on the week.

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