Oil Prices Edge Lower but Post Weekly Gains Amid Geopolitical Tensions and Uncertain Supply Outlook
• Oil futures flat to lower Friday, set for weekly gains amid supply/demand uncertainty and Middle East tensions
• WTI crude down 0.2% Friday to $73.79/barrel; Brent crude down 0.2% to $78.98/barrel
• Analyst Oil prices "violently rangebound" with escalating geopolitics but market remains well supplied
• Pakistan/Iran military strikes and U.S. strikes on Iran-backed Houthis cause shipping disruptions
• Liquidity soft, positioning uninspiring as investors weigh geopolitics against significant spare capacity