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Oil increases at Friday’s settlement   

Oil increases at Friday’s settlement   

Mubasher: Oil futures ended higher on Friday, falling 7.6% for the week.  

August Nymex WTI grew by $0.33, or 0.6%, to close at $55.63 per barrel.

The International Energy Agency (IEA) dismissed the possibility of a significant rally in oil prices, citing a slowing demand growth and global market oversupply.