Oil drilling rigs
Oil prices declined on Friday, heading for their steepest weekly losses since late June, with prices expected to fall more than 4% this week amid concerns over the impact of newly imposed tariffs on the global economy, which took effect Thursday. 
October Brent crude futures slipped 0.1%, or 11 cents, to $66.32 per barrel at 8:04 am Makkah time.
September WTI crude futures fell 0.25%, or 15 cents, to $63.73 per barrel.
The higher US tariffs on several trade partners took effect Thursday.
Analysts at ANZ Bank said in a note that these tariffs fueled worries about weaker economic activity, which could negatively affect crude oil demand, Reuters reported.
Oil drilling rigs
Oil prices declined on Friday, heading for their steepest weekly losses since late June, with prices expected to fall more than 4% this week amid concerns over the impact of newly imposed tariffs on the global economy, which took effect Thursday.
October Brent crude futures slipped 0.1%, or 11 cents, to $66.32 per barrel at 8:04 am Makkah time.
September WTI crude futures fell 0.25%, or 15 cents, to $63.73 per barrel.
The higher US tariffs on several trade partners took effect Thursday.
Analysts at ANZ Bank said in a note that these tariffs fueled worries about weaker economic activity, which could negatively affect crude oil demand, Reuters reported.
