Oil slips further below $57, still heads for weekly gain

April 10, 2015 9:27 AM

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LONDON (Reuters) - Oil edged further below $57 a barrel on Friday, pressured by evidence of ample supplies including the biggest jump in U.S. inventories since 2001 and Saudi Arabian output reaching a record high.

Brent crude was still heading for a weekly gain, having rallied on Thursday in response to strong German economic data that lifted the oil demand outlook and easing concern about a rapid rise in Iranian oil supplies.

Also read: Washington’s Strict New Policy on Iran Could Test Ties With Allies

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