Oil prices have taken a hit as the U.S. continues to impose tariffs on China, raising fears of reduced Chinese demand. This week marks the third consecutive week of falling oil prices, with U.S. supplies adding to the downward pressure.

The ongoing trade tensions between the U.S. and China have rattled the oil market, with Beijing retaliating to the tariffs imposed by Washington. Rising U.S. inventories have also contributed to the decline in prices, signaling potential oversupply in the market.

Investors are closely monitoring the situation as they fear that the tariffs will dent Chinese demand for oil, further impacting prices. The uncertainty surrounding the trade talks between the two countries has weighed heavily on the oil market, leading to increased volatility.

As oil prices continue to face downward pressure, analysts are warning of the potential impact on the global economy. The developments in the U.S.-China trade war are expected to have far-reaching consequences, with oil prices being just one of the many sectors affected.