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Oil prices set for sixth week of gains

Reuters  |  LONDON 

By Ahmad GhaddarLONDON (Reuters) - Brent oil prices rose on Friday and were set for a sixth straight week of gains, boosted by strong demand, looming sanctions on Iran, plummeting Venezuelan production and Nigerian disruptions.Brent crude futures rose by 22 cents to $79.52 a barrel at 1337 GMT. The benchmark on Thursday broke through $80 for the first time since November 2014. U.S. West Texas Intermediate crude futures were unchanged at $71.49 a barrel, and set for a third straight week of increase.British bank Barclays said it expected average prices of $70 per barrel for Brent this year and ...

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First Published: Fri, May 18 2018. 19:23 IST