NEW DELHI, July 10 : Oil prices rose on Friday and were set for weekly gains because of renewed fears of supply disruptions from the key Middle East producing region after renewed fighting between the U.S. and Iran this week curtailed shipping in the Strait of Hormuz.Brent futures were up 19 cents, or 0.25 per cent, to $76.49 a barrel by 0319 GMT. U.S. West Texas Intermediate (WTI) crude gained 19 cents, or 0.26 per cent, to $72.27. For the week, Brent was set for a gain of about 6 per cent and WTI was headed for a 5 per cent increase. "Prices have backed off the mid-week highs, but there is still a substantial risk premium as Hormuz transits are back to a near-standstill with no clear signs on when normal reopening might resume," said Vandana Hari, founder of oil market analysis provider