Temporary oil price relief seen, but rebound possible

Temporary oil price relief seen, but rebound possible

MANILA, Philippines — While consumers may see cheaper fuel prices following US President Donald Trump’s new tariffs, this could be short-lived, analysts said. After hefty tariffs on Canada, Mexico, and China, the American president has widened this move, imposing higher trade taxes on almost all imports, including Philippine goods. Following this, local fuel retailers are

Global oil prices sink to lowest level in three years after Trump tariffs

The combination of the tariffs and the Saudi-led response dropped Brent crude oil prices down to just $65.58 a barrel.

Washington, United States. Oil prices fell sharply this Friday for second consecutive session, reaching its lowest level since 2021, due to the economic impact of the trade war initiated by the United States. Brent's barrel price for delivery in June fell by 6.50%, to $65.58, its lowest level since August 2021. Its American equivalent, the West Texas Intermediate barrel (WTI), for delivery in May, dropped by 7.41%, to $61.99, also on its floor s…

Brent crude falls below $70 for first time in 4 weeks, following Trump’s tariffs

ALBAWABA – Brent crude and overall oil prices fell significantly below $70 today, marking the first time in 4 weeks. This decline follows the recent tar

2025 Budget Faces Setback As Oil Price Drops By $10

Nigeria's 2025 budget is facing fresh funding challenges due to the recent drop in global crude oil prices. The budget was set with a benchmark oil price of $75 per barrel, but recent prices have fallen below this mark. The decline, driven by US President Donald Trump's tariffs of at least 10 percent and potential []

Energy expert Javier Blas has shown through the social network X (former Twitter) how Brent’s barrel price has suffered one of its biggest falls in recent decades. In just two days, it has plummeted $10.4, placing Brent’s barrel at $65.14. This sharp drop recalls other historical falls such as the Ukraine War in 2022, the COVID-19 pandemic and the price war in Saudi Arabia in 2020, the global financial crisis of 2008 and the Gulf War in 1991. In…