Oil steadies as market assesses potential disruption in Iran, dealmaking for Venezuela [CNBC]
Chevron Corporation (CVX)
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Source: CNBC
Oil prices steadied on Friday as concerns about potential disruption to Iran's output were offset by ?expectations of increased supply ?from Venezuela. Brent futures gained ?18 cents, or 0.3%, to $62.17 per barrel by 1005 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 17 cents, or 0.3%, to $57.93. Both benchmarks climbed more than 3% on Thursday, following two straight days of ?declines. ?For the week, Brent is on track to climb ?2.3%, while WTI has gained 1%. “Iran protests seem to be gathering momentum, leading the market to worry about disruptions,” said Ole Hansen, head of commodity analysis at Saxo Bank. Civil unrest in major Middle Eastern producer Iran and concerns about ?the spread of the Russia-Ukraine war to Russian oil exports have increased supply concerns. Meanwhile, the White House is set to meet with oil companies and trading houses on Friday to discuss Venezuelan export deals. Trump has demanded that Venezuela give the U.S. full access to its oi
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