Oil prices rise on Iran sanctions, outlook uncertain | Reuters

Oil prices rise on Iran sanctions, outlook uncertain | Reuters:

Oil prices crept back towards four-year highs on Friday as traders anticipated a tighter market due to U.S. sanctions on Iran’s crude exports. 

Benchmark Brent crude oil was up 10 cents a barrel at $84.68 by 0820 GMT. On Thursday, Brent fell by $1.34 a barrel or 1.6 percent. The contract is on course for a gain of around 2.5 percent for the week.