LONDON—Oil prices edged lower on Friday but were on track for weekly gains, supported by the prospect of a tight market due to rising gasoline consumption in the United States in summer, and also the possibility of an EU ban on Russian oil.
Brent crude was down 20 cents, or 0.2 percent, at $117.20 at 1104 GMT, but was on track for a gain of about 4 percent this week.
