Oil rises but set for weekly loss as demand fears outweigh geopolitics - Reuters

Oil rises but set for weekly loss as demand fears outweigh geopolitics - Reuters:

Oil rose about 1% on Friday after attacks on two oil tankers in the Gulf of Oman this week raised concerns about potential supply disruptions, but prices remained on track for a weekly loss on fears that trade disputes will dent global oil demand.

Brent crude futures were up 66 cents at $61.97 a barrel by 10:57 a.m. EDT (1457 GMT). U.S. West Texas Intermediate crude futures were up 49 cents a barrel at $52.79.

The attacks on oil tankers near Iran and the Strait of Hormuz pushed up oil prices by as much as 4.5% on Thursday.