US Stocks Waver as Oil Prices Decline Amid Trade War Tensions

US stocks wavered on Friday as oil prices fell for the first time in a week, but Wall Street is still heading for a losing week.

The S&P 500 rose 0.1%, while the Dow Jones Industrial Average increased by 133 points, or 0.3%. However, both indexes are on track to record weekly losses.

Crude oil prices declined 3.5% to $97.19 per barrel, after rising above $100 on Thursday. Brent crude was trading at around $72 per barrel before the Iran war began in late February.

The US is also ramping up its global trade war with a fresh round of tariffs on dozens of nations, which could result in hotter inflation and impact consumer spending.

Investors are worried about the sustainability of broader profits and the impact of rising energy costs on household budgets. Nationally, a gallon of gasoline costs $4.10 per gallon, according to AAA.