Oil Heads for Weekly Gain with Mideast Supply Risks
Oil prices eased on Friday but were heading for weekly gains on the uncertainty over Middle East supplies and a larger-than-expected crude stocks draw in the United States. Brent crude futures fell 71 cents, or 0.67%, to $105.21 a barrel by 0352 GMT, while US West Texas Intermediate crude futures were down 77 cents, or 0.79%, to $97.20, Reuters reported. WTI settled up more than 3% on Thursday after a big US crude stock draw on hurricane production shut-ins. For this week so far, Brent increased 0.44%, while WTI jumped 5.81%.
