Oil prices fall into negative territory as Trump announces new tariffs

Shafaq News/ Oil prices continued to suffer losses in early Asian trading on Friday, heading towards their worst weekly performance in several months, against the backdrop of new tariffs imposed by US President Donald Trump, which raised fears of a global trade war that could affect oil demand. Brent crude futures fell 31 cents, or 0.4 percent, to $69.83 a barrel by 0157 GMT, while US West Texas Intermediate (WTI) crude futures fell 32 cents, or…

Washington. Oil prices ended with sharp falls this Thursday, following the new stage of President Donald Trump’s trade offensive, which decided to impose massive tariffs on products imported to the United States. The price of the North Sea Brent crude barrel, for delivery in June, dropped by 6.42%, to $70.14. Its American equivalent, the West Texas Intermediate barrel, for delivery in May, went back 6.64%, to $66.95. Energy products are “general…

GCC Bourses Rack Up Losers as OPEC+, Tariffs Send Oil Tanking

Gulf Cooperation Council (GCC) nations saw their bourses plunge on Thursday following U.S. President Donald Trump’s unveiling of sweeping ‘Liberation Day’ tariffs on importers that helped send oil prices plunging 7% earlier in the day. In the UAE, the Dubai stock index was gearing up to record its biggest drop so far this year, shedding 1.8%, while the Abu Dhabi index fell 0.8%. Saudi Arabia’s main index dropped 0.4%, partly driven by losses fro…

Controversial oil pipeline project gets new life after stunning announcement — why it's causing concern

President Donald Trump wants to revive the controversial Keystone XL Pipeline, calling for an energy company to "get it built — now!" His call to fast-track the project for any interested company has reignited concerns among environmentalists and Indigenous groups, who have long opposed its construction. What's happening? In an impassioned social media post, Trump recently called for a redo of the long-defunct $9 billion Keystone XL Pipeline pro…

Commodities, Interest Rates Collapse After President Trump’s Reciprocal Tariffs Announcement. Didn’t Democrats Say Prices Were Supposed To Go Up?

By Robert Romano Commodities prices and interest rates collapsed across the board following President Donald Trump’s April 2 announcement of reciprocal tariffs on U.S. trade partners despite Congressional Democrats’ predictions that inflation would increase as a result of the tariffs. Crude oil went from $72.22 prior to the announcement down to $66.12 per barrel as of this writing, a 8.4 percent decrease. Hot rolled coil steel’s June contracts w…

Oil prices fell by 3% after new tariffs introduced by US President Donald Trump. Investors believe they will trigger a global trade war that will curb economic growth and limit fuel demand.