Reported about 20 hours ago
Oil prices are experiencing a significant drop, nearing a 2% decline on Friday and set for their worst week in months, following President Trump's announcement of new tariffs. This has raised concerns about a potential global trade war affecting oil demand, leading to a surge in bond and gold investments. Despite the tariffs excluding oil and gas imports, they may still cause inflation and economic slowdown, further putting pressure on oil prices.
Source: YAHOO