Oil prices give up gains; set for weekly drop

An oil pump jack: US oil prices fell on Friday. PHOTO | FILE

US oil prices fell on Friday, taking declines to a fourth day as Asian share markets extended a sell-off on Wall Street after news of planned US tariffs on steel and aluminium raised fears of a trade war.

President Donald Trump announced he would impose hefty tariffs on the two metals to protect US producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada.

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