Oil rises slightly, set for third straight weekly decline

Oil prices edged up in early Asian trade on Friday, but were set for a third straight weekly decline, weighed down by U.S. President Donald Trump’s renewed trade war with China and his threats to raise tariffs on other countries.

Brent crude futures were up 15 cents at $74.44 a barrel by 0150 GMT, but were set to fall 3.2% this week, their biggest weekly decline since September 2024.

U.S. West Texas Intermediate crude was up 9 cents at $71.70 a barrel, but was set to fall 2.7% on the week.