India, March 7 -- Oil prices rebounded on Friday but were on track for their biggest weekly decline since October on tariff-related worries and fears of oversupply in the market.
Benchmark Brent crude futures jumped 1.2 percent to $70.28 a barrel in European trade but were down nearly 4 percent for the week. WTI crude futures were up 1.2 percent at $67.17.
U.S. crude futures are heading for a seventh weekly drop, the longest run of declines since December 2023 due to fears of oversupply in the market.
A sharp decline in the U.S. dollar and geopolitical uncertainties helped lift oil prices today as investors grappled with an increasingly complex landscape.
The dollar index is set for a weekly decline of over 3 percent as U.S. President D...