Oil Prices Set to Post First Weekly Gain in Three Weeks

Crude oil futures logged their first weekly gain in three weeks, lifted by a fresh round of U.S. sanctions on Iran, stepped-up output discipline from OPEC producers, and improved U.S. export flows. In a holiday-shortened trading week, West Texas Intermediate (WTI) settled at $64.01 per barrel on Thursday, up $3.15, or 5.18%, for the week. Brent crude saw a similar percentage gain, with both benchmarks bouncing off multi-week lows on supply-side catalysts. U.S. Sanctions on Iran Reignite Supply Risk Premium The most impactful development this week…