Oil prices were steady on Friday, giving up earlier gains, and were on track for...
TOKYO - Oil prices were steady on Friday, giving up earlier gains, and were on track for the first weekly increases this month, as rising tensions in the Middle East stoked fears of supply disruptions.
U.S. West Texas Intermediate crude futures were at $63.95 per barrel, up 8 cents. WTI was headed for a weekly gain of 2.1%, the first rise in four weeks. “When tensions are this high, with the U.S. deploying a sizable military force, even a mistake or a tactical error by Iran could ignite the Middle East powder keg,” Stephen Innes, head of trading and market strategy at SPI Asset Management told Reuters by email.
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