Brent crude futures were up 0.6%, at $63.71 a barrel by 12h33 CAT while US West Texas Intermediate crude futures added 0.63%, to $60.45.

Brent and WTI are poised to register weekly declines of almost 3% and 2.5% respectively, having both lost about 11% last week. Brent dipped below $60 a barrel at one point this week for its lowest since February 2021.

"China’s retaliations, with higher U.S. tariffs, have weighed on market sentiment and dragged oil prices lower," said UBS Analyst Giovanni Staunovo.

China announced on Friday that it will impose a 125% tariff on US goods from Saturday, up from the previously announced 84%, after US.

President Donald Trump raised tariffs against China to 145% on Thursday.
Trump this week paused heavy tariffs against dozens of trading partners, but a prolonged dispute between the world's two biggest economies is likely to reduce global trade volumes and disrupt trading routes, weighing on global economic growth and reducing demand for oil.

--Reuters--