Oil set for second consecutive weekly gain on expected tightening supply
NEW YORK (Reuters) -Oil prices were steady on Friday and headed for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply. Brent crude futures was up 3 cents at $72.03 a barrel by 10:52 a.m. EDT [1452 GMT]. The U.S. Treasury on Thursday announced new Iran-related sanctions, which for the first time targeted an independent Chinese refiner among other entities and vessels involved in supplying Iranian crude oil to China.