U.S. oil scores a 1.6% daily gain but logs weekly drop in choppy holiday trade
U.S. oil futures finished higher Friday after government inventory data showed a smaller-than-expected fall in crude inventories, but contrasted with unofficial figures that had showed a massive supply build, sparking a relief rally. West Texas Intermediate crude for February delivery rose 72 cents, or 1.6%, to end at $45.33 a barrel. For the week, oil booked a weekly decline of 0.6% based on last Friday's settlement. Markets were closed on Tuesday for Christmas and saw an abbreviated session to start the holiday week.
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