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Oil prices finish the week higher as pipeline shutdown ‘short lived’

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Oil futures climbed on Friday, erasing previous losses to finish higher for the week. “The Colonial Pipeline debacle got most of the attention from energy traders this week,” but the shutdown “did not have a material impact on the broader market as the outage was short-lived and all operations are reportedly back to normal as we approach the weekend,” said Tyler Richey, co-editor at Sevens Report Research. June West Texas Intermediate crude
CLM21,
+0.34%

rose $1.55, or 2.4%, to settle at $65.37 a barrel on the New York Mercantile Exchange. For the week, the front-month contract gained 0.7%, FactSet data show.

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