US EditionU.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
- U.S. Crude oil prices fell below $60 per barrel for the first time since April 2021 due to growing recession fears and China's retaliatory tariffs on U.S. Imports.
- Goldman Sachs has revised its Brent crude forecast to an average of $69 per barrel for 2025, while ING expects it to average $72.
- Both WTI and Brent crude are trading below key moving averages, reflecting bearish sentiment and traders' concerns about oversupply and insufficient demand.
101 Articles
101 Articles
The Independent
The Independent (US)Trump boasted that ‘oil prices are down.’ But his ex-adviser says it could spell doom
President’s former economic adviser Stephen Moore said that he’s ‘worried’ that the declining energy prices could mean investors think demand will drop due to the tariffs
Daily on Energy: Oil still down, judge to rule on EPA ‘gold bars’
WHAT’S HAPPENING TODAY: Good afternoon and happy Monday, readers! In today’s Daily on Energy, Callie and Maydeen continue to monitor dropping oil prices amid the fallout of the Trump administration’s tariffs. Meanwhile, climate groups are anticipating a preliminary injunction from a federal court as soon as this week on the Environmental Protection Agency’s efforts to cancel $20 billion in climate grants issued under the previous administration…
Gas prices could fall as crude oil plummets, expert says
Crude oil prices have dropped to their lowest level in four years after President Donald Trump announced tariffs on U.S. trading partners, which will benefit consumers nationwide at the gas pump, according to energy industry experts.U.S. crude futures were trading around $61 a barrel as of 11 a.m. ET on Monday after falling below $60 per barrel earlier. "The silver lining from the recent market turmoil is that the significant decline in oil pric…
US Crude Oil Futures Drop Below $60 per Barrel to Lowest Level in 4 Years
WTI crude oil futures, a benchmark for U.S. light oil, dropped to $58.95 per barrel in early Monday trading, the lowest level since mid-April 2021, as fears of a recession and expectations of increased supply continued to put downward pressure on prices. Brent crude oil futures fell to a low of $62.51 per barrel, their lowest level in roughly four years. WTI was trading 2.61 percent lower for the day, as of 8:15 a.m. EDT, while Brent futures wer…
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