Oil Heads for Weekly Loss as Geopolitical Risk Premium Wanes

Oil Heads for Weekly Loss as Geopolitical Risk Premium Wanes
General view of Neste's oil refinery, with a total refining capacity of about 13.5 million tonnes per year, in Porvoo, southern Finland, on Nov. 17, 2015. Jussi Rosendahl/Reuters
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LONDON—Oil prices were little changed on Friday, but headed for a second week of losses as supply concerns driven by conflict in the Middle East eased, while the demand outlook from the world’s top crude importer China remained uncertain.

Brent crude futures were down 13 cents, or 0.1 percent, to $86.72 a barrel at 0955 GMT, while U.S. West Texas Intermediate crude futures slipped 10 cents, or 0.1 percent, to $82.36 a barrel.