Oil prices rise as U.S. sanctions on Iran cloud supply outlook | Reuters

Oil prices rise as U.S. sanctions on Iran cloud supply outlook | Reuters:

Oil prices rose on Friday as U.S. sanctions on Iran are expected to cut significant volumes of crude from the market. 

Brent crude oil futures LCOc1 were at $75.19 per barrel at 0640 GMT, up 46 cents, or 0.6 percent, from their last close. Brent is on track for a 4.7 percent weekly rise.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.32 per barrel, up 49 cents, or 0.7 percent. WTI is heading for a 3.7 percent weekly increase.