Oil prices are heading for a roughly 4% weekly gain as prolonged U.S.-Iran tensions and restricted Hormuz traffic outweigh bearish demand forecasts and a sharp rise in U.S. crude inventories.

U.S. crude is back above $84 as last week's anticipation of a U.S.-Iran deal dissipates.

Oil prices are heading for a roughly 4% weekly gain as prolonged U.S.-Iran tensions and restricted Hormuz traffic outweigh bearish demand forecasts and a sharp rise in U.S. crude…