Oil prices advanced today following the imposition of new sanctions on Iran’s crude exports. However, they were on track for a third straight week of decline, impacted by US President Donald Trump’s renewed trade conflict with China and potential tariffs on other nations. Brent Crude was trading 0.6 percent up at 74 dollars and 78 cents per barrel, and WTI Crude also gained over 0.6 percent to trade at around 71 dollars and eight cents per barrel when reports last came in.