Oil rises for second day but heads for roughly 12% weekly decline
Oil futures rose for a second day on Friday, with Brent up 1.6% to $99.86 a barrel and U.S. WTI up 1.22% to $91.62 at 0222 GMT. Brent remained on track for a 12% weekly decline and WTI for a 12.1% fall. Reuters attributed the week's losses to expectations of de-escalation in the Iran war following U.S. election results, while renewed tanker attacks in the Gulf and Strait of Hormuz supported the rebound.