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Crude prices rise

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Crude prices rise

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Oil prices perked up again on Friday, though they did record their biggest weekly drop since 2004.

Energy traders remain worried a recession will take hold in the US, the world’s biggest user of oil, which would pull down demand.

In addition, investors who had piled into commodities this year as a hedge against the weak dollar and inflation have been selling out of oil for safer havens.

The price gains were limited by the latest figures showing that demand for petrol is slowing in the US.