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Brent crude up, but ends week down on economic woes

Published 08/05/2011, 03:35 PM
Updated 08/05/2011, 03:40 PM
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NEW YORK, Aug 5 (Reuters) - Brent crude oil futures ended almost 2 percent higher on Friday after three days of losses, supported by a stronger-than-expected gain in U.S. jobs for July and a pipeline fire in Iran.

The dollar fell sharply, prompting Brent crude investors to buy back oil futures after prices had fallen in three previous sessions.

In London, ICE Brent for September delivery settled at $109.37 a barrel, jumping $2.12, or 1.98 percent, after trading from $104.30 to $110.26.

For the week, the contract fell $7.37, or 6.31 percent, the biggest weekly decline since the week to June 24, when prices ended down $8.09, or 7.15 percent. (Reporting by Gene Ramos; Editing by David Gregorio)

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