Oil notches weekly gain on tight supply, Mideast conflict

Brent crude futures settled up 56 cents, or 0.7%, at US$82.19 a barrel. US West Texas Intermediate crude futures settled up 62 cents or 0.8%, at US$76.84 a barrel.

NEW YORK: Oil prices settled higher on Friday, up about 6% on a week-on-week basis, as worries about supply from the Middle East mounted and as reining outages tightened refined products markets.

Brent crude futures settled up 56 cents, or 0.7%, at US$82.19 a barrel. US West Texas Intermediate crude futures settled up 62 cents or 0.8%, at US$76.84 a barrel.