Oil prices slip on global recession fears

Brent crude futures fell 40 cents, or 0.5% to settle at US$73.63 a barrel. US West Texas Intermediate crude futures (WTI) fell 56 cents, or 0.8%, to close at US$69.36 a barrel.

NEW YORK: Oil prices fell on Friday on worries that US tariff wars could spark a global recession, but gained for a third consecutive week after Washington ratcheted up pressure on Opec members Venezuela and Iran.

Brent crude futures fell 40 cents, or 0.5% to settle at US$73.63 a barrel. US West Texas Intermediate crude futures (WTI) fell 56 cents, or 0.8%, to close at US$69.36 a barrel.