Oil prices rose on Friday, supported by expectations that sanctions on Iran would tighten global supplies, but futures posted a weekly drop as a slump in stock markets and concerns about trade wars clouded the fuel demand outlook.
Brent crude futures rose 73 cents, or 1 percent, to settle at $77.62 a barrel. The global benchmark marked a weekly loss of about 2.7 percent and is down about $10 in three weeks.
U.S. West Texas Intermediate (WTI) crude futures rose 26 cents, or 0.4 percent, to end at $67.59 a barrel. It posted a weekly loss of about 2.3 percent.
Graphic: Iran seaborne crude oil exports -
Prices got some support when two sources said on Friday Iraq will stop trucking crude oil from its northern Kirkuk oil field to Iran in November to comply with U.S. sanctions.
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