Oil Heads for Weekly Gain on US Iran Sanctions
Oil prices held steady and headed for a second weekly gain on Friday. The rise comes as the United States threatens tougher sanctions on Iran. Supply disruptions in the Middle East continue to support prices.
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Brent Crude Oil rose to $93.98 a barrel and West Texas Oil reached $86.90 on Friday, heading for a second consecutive weekly gain. Both benchmarks advanced more than 5% this week, hitting their highest levels since late July. The climb follows renewed pressure from the United States over energy flows in the Middle East.
