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Oil rises but set for second weekly fall as supply concerns ease

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.Brent crude futures rose 82 cents to $75.27 a barrel, a 1.1 percent gain, by 1:14 p.m. EDT (1714 GMT). It was on track for a weekly fall of around 2.4 percent.U.S. West Texas Intermediate (WTI) crude futures for August delivery rose 71 cents to $71.04 a barrel, but was on course for a weekly decline ...

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First Published: Fri, July 13 2018. 22:57 IST
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