Oil prices notch a second straight weekly climb

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Oil futures ended a bit lower on Friday, but scored a second straight weekly gain. Concerns that the global rise in COVID-19 cases will spur new economic shutdowns that lead to lower energy demand put pressure on prices, but support came from a bigger-then-expected weekly fall in U.S. crude supplies and fresh signs of OPEC+’s commitment to production cuts. November West Texas Intermediate crude fell 8 cents, or 0.2%, to settle at $40.88 a barrel on the New York Mercantile Exchange. For the week, front-month prices rose 0.7% for the week.
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