Oil heads for weekly climb on potential Mideast supply disruption

Oil prices softened on Friday but were set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites.

Brent crude oil futures were down 73 cents, or 0.9 per cent, at $78.67 a barrel by 1208 GMT. U.S. West Texas Intermediate crude futures slipped 71 cents, also 0.9 per cent, to $75.14 per barrel.

For the week, both benchmarks were headed for gains.

“A potential...