Oil Steady But Heads for Decline

Oil prices stabilized on Friday and were on track for their biggest weekly drops since November after seesawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers.
Brent crude futures inched down 16 cents, or 0.15% to $109.17 a barrel after dropping 1.6% in the previous session, Reuters reported.
US West Texas Intermediate crude futures were up 2 cents, or 0.02%, to $106.04 a barrel, following a 2.5% decline on Thursday.
In a week of volatile trading marked by talk of Russian oil embargoes then potential supply additions from Iran, Venezuela and the UAE while fighting escalated in Ukraine, Brent was on track for a weekly fall of about 7% after hitting a 14-year high of $139.13. 
US crude was headed for a drop of around 8% after touching a high of $130.50.
"Both contracts could well move sharply below $100 a barrel from here on any news perceived as easing supply disruptions," said Jeffrey Halley, an analyst at OANDA.
Similarly, both contracts could easily be back at $115.00+ on any negative headlines, he added.