Crude-oil futures erased earlier losses Friday, gaining more than 3% in late morning trading as higher U.S. stock markets boosted sentiment and on concerns that Russia's cutting off natural gas to Ukraine could affect European energy suppliers. Crude for February delivery was last up $1.57, or 3.5%, at $46.17 a barrel on the New York Mercantile Exchange. Earlier, the contract slumped as much as 8% to an intraday low of $41.05 a barrel.

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