U.S. oil benchmark ends nearly flat, but tallies a 4th straight weekly rise

Australian dollars in Sydney, Friday, Jan. 15, 2016. (AAP Image/Joel Carrett) NO ARCHIVING

The U.S. oil benchmark settled little changed on Friday, but tallied a gain for the week, its fourth in a row, as the market continued to show uncertainty over whether efforts among major oil producers to raise output will be enough to make up Iranian crude exports lost to U.S. sanctions, which kick in next month. November West Texas Intermediate oil CLX8, -0.01% rose by a penny to settle at $74.34 a barrel on the New York Mercantile Exchange. It was up about 1.5% for the week after settling at a nearly four-year high of $76.41 on Wednesday.

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