Dhaka, Aug. 1 -- Oil prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of new higher US tariffs that may curtail economic activity and lower global fuel demand growth.

Brent crude futures rose 4.0 cents, or 0.06 per cent, to $71.74 a barrel by 1201 GMT. US West Texas Intermediate crude rose 1.0 cent, or 0.01 per cent, to $69.27, according to Reuters.

Still, Brent prices are set to gain 4.9 per cent for the week while WTI is set to climb 6.4 per cent after US President Donald Trump earlier this week threatened to place tariffs on buyers of Russian crude, particularly China and India, to coax Russia into halting its war against Ukraine.

On Friday though, investors were ...