Oil Heads for Weekly Gains as Ukraine War Intensifies

OIL PRICE - LONDON. Oil prices inched lower on Friday, but were on track for a weekly rise of nearly 4%, as an intensifying war in Ukraine returned a geopolitical risk premium to oil markets.

Brent crude futures fell 65 cents, or 0.88%, to $73.58 a barrel by 1312 GMT. U.S. West Texas Intermediate crude futures fell by 66 cents, or 0.94%, to $69.44 per barrel.