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Oil prices set for sixth week of gains, India sounds alarm

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, as Saudi Arabia moved to assuage supply concerns.Brent crude futures rose by 51 cents to $79.81 a barrel at 1209 GMT. The benchmark broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate crude futures were at $71.61 a barrel, up 12 cents and set for a third straight week of increase.British bank Barclays said it expected ...

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First Published: Fri, May 18 2018. 17:56 IST