Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the attacks near the Strait of Hormuz, the biggest global choke-point for oil flows, while Tehran rejected the allegations. Meanwhile, the US and China remained deadlocked on trade, with economic adviser Larry Kudlow warning Beijing may face consequences if President Xi Jinping declines an invitation to meet with President Donald Trump in Japan this month.
