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Oil futures end higher, but log second weekly loss after release of crude reserves

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Oil futures ended higher Friday but booked a second straight weekly loss as the U.S. and other countries released crude from strategic reserves in response to worries over supply shortages following Russia’s invasion of Ukraine. West Texas Intermediate crude for May delivery rose $2.23, or 2.3%, to close at $98.26 a barrel on the New York Mercantile Exchange, for a 1.2% weekly decline.

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