Oil headed for the biggest weekly gain since October on sustained geopolitical tensions, lower US crude stockpiles, and prospects for additional stimulus in China. West Texas Intermediate held above $77 a barrel after jumping 3% in the previous session to hit a two-month high in an initial breakout from its narrow range over recent weeks. Global benchmark Brent closed above $82 a barrel on Thursday. The backdrop to crude’s advance has been elevated tensions in the Middle East, with the US and UK striking at Iran-backed Houthi rebels in Yemen in an effort to force them to halt attacks on commercial shipping. ... (full story)