Oil retreats from $100, weekly gains intact

Oil prices fell over 3% on Friday but remained on track for weekly gains of 8-10% as Red Sea disruptions and US-Iran tensions offset profit-taking. Brent crude dropped $3.59 to $97.10 a barrel after settling above $100 for the first time since May, while WTI fell $3.14 to $89.05. Houthi attacks on Saudi tankers and US threats of military action against Iran have escalated supply fears, though analysts note shipping continues at reduced levels.