Oil eases after Oman confirms Mina al Fahal operations proceeding normally

Oil prices edged lower after Oman said Mina al Fahal port operations were proceeding normally, easing concerns from an explosion that had prompted reports of suspended loadings. Brent dipped to about $94.79 a barrel and WTI around $92.48, with both set for their first weekly gain in three weeks as Middle East tensions and Hormuz traffic remain in focus. OPEC kept its 1.2 million bpd oil-demand growth forecast for the year, while Iranian exports stay depressed due to naval blockades.