Daily Market Updates: Oil set for second weekly gain as Iran pressure raised

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Oil set for second weekly gain as Iran pressure raised

Reported · Written up by our desk · Trade & Tariffs

Oil prices eased on Friday but were still on track for a second consecutive weekly rise, helped by expectations that the U.S. will intensify economic pressure on Iran, CNBC World reports.

The outlet said hopes for a quick reopening of the Strait of Hormuz have faded to near zero, weighing on the outlook for near-term supply through the key shipping route.

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CNBC WorldOil prices head for second weekly rise as U.S. vows to turn up economic pressure on Iran

Global Markets

Oil set for second weekly gain as Iran pressure raised

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Sources

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