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U.S. oil prices log first gain in 5 sessions, but post a third straight weekly loss

Oil futures on Friday posted their first gain in five sessions, but logged a more than a 7% loss for the week driven by worries over the economic outlook.

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Price action

Oil prices climbed Friday in the wake of the U.S. jobs report, which revealed a strong increase of 253,000 new jobs in April, according to government data. The unemployment rate fell to 3.4% from 3.5%.

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