U.S. and global oil futures declined on Thursday as a hefty rise in last week’s U.S. supplies and uncertainty surrounding tariff disputes helped to weaken the outlook for crude demand, prompting prices to settle at their lowest levels of the year.

Oil prices diverged at settlement on Tuesday amid tariff drama between Washington and Beijing, and after U.S. President Donald Trump restored his "maximum pressure" campaign on Iran, in a bid to drive Iranian oil exports to zero,

President Trump’s tariff on Canadian oil is expected to raise prices at the pump for U.S. consumers, if it takes effect as planned after a 30-day delay. Analysts told The Hill that the 10 percent

Oil futures on Wednesday marked their lowest settlement prices of the year, after official U.S. data showed a weekly climb of nearly 9 million barrels in U.S. crude inventories and as the U.S.-China trade battle threatened to dent demand.

Trump has delayed imposing 25% tariffs on Canadian and Mexican imports for 30 days following border security commitments from both nations.

Oil prices on the New York commodity exchange are falling after China imposed tariffs on American goods, including oil and liquefied natural gas. In addition to concerns about a trade war, investors are also worried about U.

Oil prices on the New York commodity exchange are dropping after China imposed tariffs on American goods, including oil and liquefied natural gas. Brokers report that investors are also worried about US sanctions on Iran.