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Shares of Chevron Corp. pulled back Friday, putting them on track for their first loss in eight sessions, after the oil giant reported first-quarter profit and revenue that fell amid a sharp drop in natural-gas prices, but still managed to beat expectations.
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Profits for the two oil giants, which are locked in a standoff over drilling off the coast of Guyana, were squeezed by lower profitability for refining crude and falling natural gas prices.
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Oil futures finished below Friday's session highs after the latest U.S. inflation data raised doubts that the Federal Reserve will lower interest rates anytime soon.
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