Oil prices were easing in early trade amid concerns about U.S. trade tariffs and an industry report showing a buildup in U.S. crude inventories.
Brent crude was down 0.4% to $75.74 a barrel, while WTI fell 0.3% to $71.89 a barrel.
U.S. President Donald Trump said he is considering tariffs of 25% or more on automobiles, semiconductors and pharmaceutical products—a move that traders fear could hurt the global economy and reduce fuel demand.
Meanwhile, U.S. crude stocks rose by 3.34 million barrels last week, according to reports citing figures from the American Petroleum Institute ahead of official data later on Thursday.
Crude futures settled higher in the previous trading session, supported by supply uncertainties amid disruptions to Kazakhstan’s oil flows and fresh EU sanctions on Russia.