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By: New York Times – For most of the last six years, the leaders of Russia and Saudi Arabia worked with each...
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U.S. crude oil closed below $60 per barrel on Tuesday, the lowest level in four years as traders fear that President Donald Trump's sweeping tariffs will trigger a full-blown, global trade war.
U.S. crude oil lost $1.12, or 1.85%, to close at $59.58 per barrel, the lowest level since April 2021. Global benchmark Brent fell $1.39, or 2.16%, to settle at $62.82 per barrel.
The U.S. benchmark rose much as 1.7% earlier in the session, but pulled back as Trump's China tariffs loom over the market. Prices are down more than 15% since last Wednesday when Trump announced the new round of import taxes.
Helima Croft, global head of commodity strategy at RBC Capital Markets, said the oil market faces a "toxic cocktail" of recession fears due to Trump's tariffs and OPEC+'s decision to bring more barrels back to the market.
A long-overlooked shale play in South Texas might finally be showing signs of promise,...
In a stark reminder of the volatile energy landscape and the relentless drive for...
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CBS News | Ukraine and Russia blamed each other on Sunday for breaking the one-day Easter...
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by Bloomberg|David Wethe, Alix Steel | Energy Secretary Chris Wright sought to reassure US...
Russia and Iran have cemented a preliminary energy pact that could dramatically reshape regional...
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