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Oil heads for weekly loss as inflation, interest rates spur fuel demand concerns

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Oil prices rose 1% on Friday, but looked set for a weekly loss after strong U.S. economic data reinforced expectations that interest rates might remain elevated for an extended period and curb fuel demand. The Brent crude July contract rose 87 cents to $82.22 a barrel as of 1:40 p.m. ET (1740 GMT). The more-active ...

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