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Oil falls for second week as supply concerns ease

Reuters  |  LONDON 

By Dmitry ZhdannikovLONDON (Reuters) - Oil prices were set for a second straight week of decline on Friday after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.Brent crude was down 10 cents at $74.35 per barrel by 1308 GMT, having fallen earlier by 1.3 percent. It was heading for a weekly fall of around 3 percent.U.S. benchmark West Texas Intermediate crude was up 10 cents at $70.43, and was on course for a weekly decline of around 4 percent.Oil approached $80 in late June and early July due to Libyan and Venezuelan supply disruptions and ...

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First Published: Fri, July 13 2018. 19:02 IST