Oil prices erase gains in U.S. trade, set for weekly falls
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LONDON (Reuters) - Oil prices dipped on Friday, erasing earlier gains, on concerns about rising new coronavirus cases in the United States and China and expectations of U.S. output ticking up while crude stockpiles linger at record highs.Brent crude futures were 13 cents lower at $40.92 at 1342 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 33 cents at $38.39.The contracts are on track for weekly falls of around 3.1% and 3.6%, respectively, after record U.S. crude inventory..