Dhaka, Aug. 8 -- Oil prices were little changed in early Asian hours on Friday, but were headed for their steepest weekly losses since late-June, as investors expressed concern over the impact to the global economy from tariffs that kicked into effect on Thursday.

Brent crude futures were down three cents to $66.40 a barrel at 0050 GMT, on track to decline more than 4.0 per cent week-over-week. US West Texas Intermediate crude futures were down six cents, or 0.1 per cent, to $63.82 a barrel, set to fall more than 5.0 per cent on a weekly basis, according to Reuters.

Higher US tariffs against a host of trade partners went into effect on Thursday. The tariffs raised concerns of weaker economic activity, which would hit demand for crude oi...