Oil Prices Dip But Head For Strong Weekly Gains Amid US-Iran Tensions
London: Oil prices fell in trading on Friday but remained on track for weekly gains of more than 6% amid renewed escalation between the United States and Iran.
Brent crude futures fell 23 cents, or 0.24%, to $95.29 a barrel, while US West Texas Intermediate dropped 54 cents, or 0.59%, to $90.76.
Brent was up 6.1% for the week, while WTI had gained 8.3%.
Higher oil and fuel prices have added to inflation and government borrowing costs worldwide, while raising concerns that the global economy could face a sharper downturn.
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