Oil heads for weekly gains amid stalemate between US and Iran

Oil prices saw little change today (Friday), but are on track to post a second consecutive weekly gain, as stalemate between the United States and Iran continues to disrupt Middle East supplies. Brent crude futures fell 39 cents, or 0.42%, to $93.39 a barrel, after rising 2.4% in the previous session. U.S. West Texas Intermediate crude futures dropped 50 cents, or 0.58%, to $86.33 a barrel, following a 2.3% gain on Thursday. Over the past five days, Brent crude has risen by more than 7%, and U.S. crude by over 8%, reaching their highest levels since July 24.