Oil prices edged lower on Friday as concerns over demand weighed on markets following new U.S. tariffs. However, prices remained on track for a third consecutive weekly gain, driven by a tightening global supply outlook. The U.S. has ramped up pressure on Venezuelan and Iranian oil exports, adding to supply constraints. Analysts say geopolitical risks and production cuts by major oil producers continue to support prices, despite uncertainties surrounding global trade and economic growth. Markets now await further developments on sanctions and demand forecasts to gauge the next price movement.