Oil set for weekly gain of over 7pc on supply disruptions

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Oil prices have slipped, but are still up more than seven per cent for the week as attacks along key Middle East shipping routes stoke prolonged supply disruption fears, Reuters reports.

Brent crude futures are down $3.75, or 3.48pc, to $103.88 a barrel as of 1012 GMT (3:12pm PKT). US West Texas Intermediate crude has fallen by $3.33, or 3.25pc, to $99.15 a barrel.

Both benchmarks hit their highest levels since mid-May earlier in the session.

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