Mubasher: Oil futures levelled down at Friday’s close, losing 1.2% for the week, as China took retaliatory trade measures against the US.

October Nymex WTI declined by $1.18, or 2.1%, to close at $54.17 per barrel.

On Friday, China unveiled that it would levy additional tariffs on $75 billion worth of US products, responding to President Donald Trump’s latest announcement of duties on Chinese imports.