India, Aug. 1 -- Oil prices fell slightly on Friday but headed for a weekly gain following U.S. President Donald Trump's warnings to China and India of penalties on their ongoing purchases of Russian oil.
The two countries are the world's second- and third-largest crude consumers, respectively.
Benchmark Brent crude futures dipped 0.4 percent to $71.41 a barrel in European trade but were on track for a weekly gain of more than 4 percent.
Likewise, WTI crude futures were down 0.6 percent at $68.87 but were up nearly 5 percent for the week.
After Trump signed an executive order for new tariffs on almost 70 countries, there are concerns that the economic fallout of the tariffs could weigh on global growth and dent global energy demand.
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