Oil Tumbles as Surprise OPEC+ Hike, Trump Tariffs Depress Prices
An employee working remotely to support drilling operations in a North Dakota oil field.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
Oil plunged the most since July 2022 after suffering a twin hit from President Donald Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced.
West Texas Intermediate futures plummeted 6.6% to settle below $67 a barrel, while global benchmark Brent dropped 6.4% to end the session near $70.