Oil Heads for 3% Weekly Decline as Supply Risks Ease

OIL PRICE - NEW YORK. Oil prices were steady on Friday and heading for a weekly decline of 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts.

Brent crude was down 15 cents, or 0.2%, at $73.13 a barrel by 11:55 a.m. EST (1655 GMT). U.S. West Texas Intermediate crude futures were at $68.87, up 15 cents, or 0.22%, from the last close before Thursday's Thanksgiving holiday.