OIL PRICE: ABOVE $62
REUTERS - Oil prices rose about 1 percent on Friday after steep losses a day earlier, supported by rising tensions between the United States and Iran, even as concerns that slowing economic growth could dent global oil demand cast a cloud.
For the week, benchmark crude prices declined, having fallen sharply earlier in the week on demand worries.
Brent crude LCOc1 futures settled 54 cents higher at $62.47 a barrel. West Texas Intermediate crude CLc1 futures rose 33 cents to end the session at $55.63 a barrel.
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