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Oil heads for biggest weekly loss since mid-January

An oil rig lights up Cape Town harbour as the sun sets August 6, 2011.

Crude prices rose on Friday after losses of more than 3 percent a day earlier, with investors treading cautiously ahead of key U.S. employment data that will help gauge the health of the world's largest economy and oil consumer.

Brent and West Texas Intermediate crude futures are on track for their biggest weekly losses since mid-January, hit by oil inventory builds and weak U.S. manufacturing...


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