Oil prices rise in early trade on a softer U.S. dollar, but are still on course for a weekly loss as traders worry President Trump's trade war with China will weigh on global economic growth. Brent crude is up 1.4% at $64.18 a barrel, while WTI rises 1.4% to $60.93 a barrel.

The dollar index--which measures the greenback against a half-dozen currencies--fell below 100, making commodities cheaper for holders of other currencies.

Still, the crude benchmarks are poised to drop for a second straight week after Trump said tariffs on China add up to 145%, further raising concerns over a prolonged trade war between the world's two largest economies.

"High level economic uncertainty is challenging for a macro-sensitive commodity such as oil," BMI analysts say. "We expect prices will remain under pressure as investors assess ongoing trade negotiations and rising tensions between Washington and Beijing."

Source: Marketwatch