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The Economic Times
The Economic Times
Business

Oil heads for weekly gain as Middle East supply risks persist

Oil Ayatollah Ali Khamenei Iran Middle East Donald Trump United States Strait of Hormuz Hormuz

Oil prices edged higher on Friday and were set for weekly ​gains because of renewed fears of ​supply disruptions from the key Middle East producing region after renewed fighting ​between the U.S. and Iran this week curtailed shipping in the Strait of Hormuz.

Brent futures were up 4 cents, or 0.05%, at $76.34 a barrel by 0319 GMT. U.S. West Texas Intermediate (WTI) crude gained 7 cents, or 0.10%, ‌to $72.15.

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