New Delhi, March 29 -- Oil prices fell on Friday on worries that U.S. 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 $73.63 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 56 cents, or 0.8%, to close at $69.36 a barrel. U.S. President Donald Trump plans to announce reciprocal tariffs targeting a wide range of imports, effective on April 2.

The trade war has investors worried about a potential recession, JPMorgan analysts told clients.

"Concerns about a trade war, coupled with elevated U.S. policy uncertainty, are weighing heavily on sentiment," they said....