WASHINGTON (dpa-AFX) - Oil prices were subdued on Friday but headed for a fourth straight weekly gain due to West Asia tensions, weather concerns and hopes of rising demand during the Northern Hemisphere's summer driving season.
Benchmark Brent crude futures slipped 0.2 percent to $87.26 a barrel, while WTI crude futures were little changed at 83.86.
Crude oil prices were up nearly 3 percent for the week as investors weighed the outlook for summer demand.
Recently, the American Automobile Association forecast 5.2 percent increase in trips during U.S. Independence Day holiday, with car travel up 4.8 percent from last year.
Additionally, recent data by the U.S. EIA (Energy Information Administration) showed U.S. crude inventories shrank by the most in almost a year.
On the geopolitical front, Lebanon's Hezbollah said it has launched more than 200 rockets and drones targeting Israeli military positions in response to a strike that killed a senior commander of the armed group.
It is feared that further escalation in tensions would lead to supply disruptions from the region.
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