Oil prices steadied on Friday, consolidating after recent gains, as global supplies stayed tight and the market awaited news from Washington over possible new U.S. sanctions against Iran. Brent crude oil was down 10 cents at $73.52 a barrel by 0800 GMT. The benchmark contract hit a 3-1/2 year closing high of $75.17 on Monday. U.S. light crude was 5 cents lower at $68.38 and set for gain of 0.3 percent for the week. “Rising geopolitical risks have been a big factor behind oil’s strong rise this year,” ANZ analysts Daniel Hynes and Soni Kumari wrote in a note to clients of the bank. “The extent of the rally would have been significantly weaker if not for the recent tightness in the market. We expect the market to tighten even […]