Oil futures bounced Friday from 2025 lows, but were on track for a third straight weekly fall amid rising U.S. inventories and worries that higher U.S. tariffs on China will dent growth and crude demand.

Thanks to abundant supply and fairly flat demand, oil prices are forecast to fall — unless tariffs and geopolitics get in the way.

"Despite the 'energy emergency' claims, the US is producing energy in record quantities," JPMorgan Asset Management wrote.

U.S. and global oil futures declined on Thursday as a hefty rise in last week’s U.S. supplies and uncertainty surrounding tariff disputes helped to weaken the outlook for crude demand, prompting prices to settle at their lowest levels of the year.

In response to Donald Trump’s statements regarding pressure on OPEC-plus to reduce oil prices and the potential impact on the budgets of

President Trump’s tariff on Canadian oil is expected to raise prices at the pump for U.S. consumers, if it takes effect as planned after a 30-day delay. Analysts told The Hill that the 10 percent

Oil prices edged up on Thursday after Saudi Arabia's state oil company raised its March crude prices sharply, but the gains barely dented the previous day's slide in benchmark Brent crude. Brent crude futures rose 44 cents,