Oil Slips as Tariff Risks Outweigh Sanctions

Oil prices fell by 1% early on Friday as tariff risks and concerns about economic slowdown outweighed sanction risks from the increased U.S. pressure on Iran and Venezuela. As of 10:12 a.m. ET on Friday, the front-month futures of the U.S. benchmark, WTI Crude, were trading down by 1.56% at $69.23. The international benchmark, Brent Crude, was down by 1.40% at $73.00. Both benchmarks are on track to book their first weekly loss in a month and the first monthly decline since November 2024, amid continued tariff threats from U.S. President Donald…