Oil Prices Tumble on Trump Tariffs and OPEC+ Production Hike ...0

After a string of weekly gains, oil prices were sent tumbling this week following the announcement of tariffs that the United States will impose on its trade partners, many of which are running substantial trade surpluses with the U.S. At the time of writing Brent crude was trading at $69.52 per barrel, with West Texas Intermediate at $66.25 per barrel, both sharply down from earlier in the week when Brent crude was trading above $75 per barrel and WTI climbed past $72. The tariffs announced by President Trump immediately hit the benchmarks because…

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