Oil Rallies To Best Week In Years After OPEC Output Deal

Iran had threatened on Friday to retaliate against the U.S. Senate's vote to extend the Iran Sanctions Act (ISA) for 10 years, saying it violated last year's deal with six major powers that curbed its nuclear program.

The sanctions were first adopted in 1996 to punish investments in Iran's energy industry and deter its pursuit of nuclear weapons.

Meanwhile, U.S. energy companies extended their recovery in oil drilling into a seventh month this week, data from energy services firm Baker Hughes Inc showed on Friday.

(Additional reporting by Ron Bousso in London, Henning Gloystein and Roslan Khasawneh in Singapore; Editing by Andrew Hay and Chizu Nomiyama)

Copyright 2016 Thomson Reuters.


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