Oil heads for biggest weekly gain since July as Middle East tensions flare

Oil prices edged higher on Friday and were headed for their biggest weekly gain since mid-July as escalating tensions between the US and Iran raised concerns over disruptions to crude supplies from the Middle East.Brent crude futures rose 15 cents, or 0.2%, to $95.67 a barrel at 0100 GMT, while US West Texas Intermediate crude gained 26 cents, or 0.3%, to $91.56.Brent was up 7.1% for the week, while WTI had gained 9.8%, putting both benchmarks on course for their strongest weekly advances since the week ended July 20.The latest gains came after US attacks this week killed and wounded dozens, including Iranian civilians, in the fiercest clashes between Washington and Tehran since July. The conflict, which began with US-Israeli strikes at the end of February, has now entered its seventh month.Concerns over the wider impact on energy infrastructure have also grown.