- Oil prices fell, erasing Thursday’s gains
- Trump revoked Chevron’s Venezuela license
- US tariffs raised economic slowdown fears
- OPEC+ debated April supply strategy
- Russian exports may rise following the piece deal
Oil prices edged lower on Friday, on track for their first monthly decline since November, as traders weighed supply concerns against economic uncertainties.
Brent crude fell to $73 a barrel, erasing part of Thursday's 1.6% gain, after President Trump revoked Chevron's license to operate in Venezuela.
The decision could disrupt more than 240,000 barrels per day and tighten global supply.
However, investors remained cautious as US tariffs on Canada, Mexico and China fueled fears of a global economic slowdown.
On the supply side, OPEC+ debated its April supply strategy amid fresh US sanctions on Venezuela, Iran and Russia.
Meanwhile, hopes for a peace deal pointed to increased Russian oil exports, further weighing on prices.
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