Oil headed for the biggest weekly gain in 11 months as market focus shifted to the outlook for U.S. economic stimulus and a storm that is menacing the Gulf of Mexico. Futures in New York rose above $68 a barrel and are up almost 10% for the week. Oil producers in the U.S. Gulf of Mexico have begun shutting production ahead of Tropical Storm Ida, which will be at least a Category 2 hurricane by the time it makes landfall near New Orleans in the next few days. The market’s focus is also turning to a speech from Federal Reserve Chair Jerome Powell later on Friday for insights into how bond purchases may be eased. Strength in the dollar has weighed on crude in recent weeks, with commodities priced in the currency getting more expensive. “As the weather premium makes a return to the energy complex, it is still […]