Oil set for biggest weekly loss since January

By Scott DiSavino NEW YORK (Reuters) - Oil futures on Friday were on course for their biggest weekly percentage declines since January of just under 10 percent as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact. Traders also noted a surge in U.S. crude inventories last week and muted demand continued to weigh on futures. At a meeting of OPEC experts last week, Riyadh threatened to raise oil output steeply to bring prices down if Tehran refused