Oil rises ahead of Iran sanctions but falls for a third week | Reuters

Oil rises ahead of Iran sanctions but falls for a third week | Reuters:

Oil prices rose on Friday, supported by expectations that sanctions on Iran would tighten global supplies, but futures posted a weekly drop as a slump in stock markets and concerns about trade wars clouded the fuel demand outlook. 

Brent crude LCOc1 futures rose 73 cents, or 1 percent, to settle at $77.62 a barrel. The global benchmark marked a weekly loss of about 2.7 percent and is down about $10 in three weeks.

U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 26 cents, or 0.4 percent, to end at $67.59 a barrel. It posted a weekly loss of about 2.3 percent.