Oil up weekly as traders weigh demand, Iran dealBloombergOil declined on Friday, but still posted a weekly gain as traders weighed the prospects of higher demand this winter against the potential for Iranian supply to return. Oil pumpjacks are pictured at Vaca Muerta shale oil and gas drilling in the Patagonian province of Neuquen, Argentina, on Jan. 21, 2019. “Demand numbers in the US were better and we have priced in a lot of negative demand adjustments into the market at this point,” she added. The International Energy Agency this week raised its forecast for global demand growth, which has supported prices. While many analysts and traders believe the prospect of an Iran nuclear deal has not yet been priced into the market, the likelihood of an agreement is increasing.
