Oil Rises on Supply Risks After Longest Losing Run Since 2015 - Bloomberg

Oil Rises on Supply Risks After Longest Losing Run Since 2015 - Bloomberg:

Oil rose in New York and headed for its first weekly gain in two months amid signs of tighter supply from the North Sea to the Middle East.

Futures in New York gained about 4 percent this week, ending their longest run of weekly losses since 2015. U.S. crude stockpiles dropped by more than twice what analysts expected last week, while strikes at Total SA’s fields in the North Sea could curb supply. Iran’s exports are set to decline sharply as renewed U.S. sanctions take effect, analysts at FGE and Cowen & Co. said.