Oil prices slip, but posts weekly gains on Middle East tensions

Oil prices slipped on Friday, but both benchmarks posted a weekly gain on rising concerns over further Middle East supply disruptions due to U.S.-Iran political tensions.

A deputy head of Irans elite Revolutionary Guards said on Friday Iran couldeasily hit U.S. warships in the Gulf, the latest in days of sabre-rattling between Washington and Tehran. Meanwhile Irans top diplomat worked to counter U.S. sanctions and salvage a nuclear deal denounced by President Donald Trump.

Read more