Oil prices increased in early Asian trading on Friday, on track for their second consecutive week of gains, as new U.S. sanctions on Iran and a fresh OPEC+ plan for seven members to reduce output boosted expectations of tightening supply.
By 0026 GMT, Brent crude futures had risen by 42 cents, or 0.6%, to $72.40 per barrel, while U.S. West Texas Intermediate crude futures were up 45 cents, or 0.6%, at $68.52 a barrel.
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