Oil Headed For Weekly Loss On Optimism Over US-Iran Peace Talks

Oil prices traded higher on Friday but headed for a weekly loss amid renewed optimism about U.S.-Iran talks. However, both the sides are still at odds over Tehran’s uranium stockpile and future control of the Strait of Hormuz.Brent crude prices traded up over 3 percent around $106 a barrel but were down nearly 4 percent for the week. WTI crude futures were up 2.6 percent at $98.88 a barrel and hea…