Oil prices dipped on Friday amid escalating trade disputes between the United States and other major economies, although crude markets remain tight due to supply disruptions, high demand, and the looming U.S. sanctions against Iran. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $73.18 a barrel at 0708 GMT, down 26 cents, or 0.4 percent, from their last settlement. WTI on Thursday hit its highest since November 2014 at $74.03 per barrel. Brent crude futures LCOc1 were at $77.69 per barrel, down 16 cents, or 0.2 percent. Friday’s falls came amid an escalation of trade disputes between the United States on one side and major economies including China, India and the European Union on the other. Traders worry that escalating […]