The oil price rose on Thursday and was set for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of U.S. sanctions. The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that curbed Tehran’s nuclear activities in exchange for removing U.S.-Europe sanctions. Brent crude futures were up 29 cents at $77.50 a barrel by 0933 GMT, having gained 3.5 percent so far this week, the largest weekly increase since mid-April. U.S. West Texas Intermediate crude futures were up 42 cents at $71.56 a barrel. The oil […]