Oil prices eased about 1% on Friday as traders worried that Washington's tariff wars could spark a global recession, but for the week, prices were headed for their third weekly gain as the US ramped up pressure on Venezuela and Iran.
Brent crude futures were down 67 cents, or 0.9%, to $73.36 a barrel by 1614 GMT. US West Texas Intermediate crude futures fell 83 cents, or 1.2%, to $69.09 a barrel.
US President Donald Trump plans to announce reciprocal tariffs targeting a wide range of imports, effective from April 2. The trade war has investors worried about a potential recession, JPMorgan analysts told clients on Friday.
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