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.

Oil prices on the New York commodity exchange are falling after China imposed tariffs on American goods, including oil and liquefied natural gas. In addition to concerns about a trade war, investors are also worried about U.

Oil prices on the New York commodity exchange are dropping after China imposed tariffs on American goods, including oil and liquefied natural gas. Brokers report that investors are also worried about US sanctions on Iran.