Oil prices were little changed this week after fears that drone attacks on oil fields in northern Iraq would lead to supply cuts, as well as concerns about a possible decline in demand amid uncertainty over US customs policy.
Oil prices are rising as the situation in the Middle East becomes critical.
Despite a surge in oil prices this week on expectations of a major escalation in the Middle East, the benchmarks were set for their fourth weekly loss in a row as demand concern outweighed the war premium.
Crude oil prices are on track for a third weekly loss in a row, pressured by the perception of weaker-than-desired Chinese demand.
Oil prices are poised for a third straight weekly jump, buoyed by growing expectations that the U.S. central bank will soon start to cut interest rates.
Crude oil prices have risen for a second week amid signs of improving demand and falling oil and fuel inventories in the U.S., the world's biggest oil consumer.
