Oil Prices Head for First Weekly Gain Since January on Iran Tensions

Crude oil prices were on course for their first weekly increase after three consecutive weekly losses, following President Trump’s latest threat to Iran that gave the country 10-15 days to make a deal or “really bad things” would happen. At the time of writing, Brent crude was trading at $72.08 per barrel, with West Texas Intermediate at $66.89 per barrel, both up after hitting their highest levels in six months on Thursday after Trump’s threat. “With a deal looking increasingly difficult to reach, it also means it…