Reported 9 days ago
Oil prices saw a significant drop on Wednesday, falling nearly 4% to their lowest levels in over four years, due to rising demand concerns linked to escalating tariffs between the U.S. and China. Brent crude futures fell to $60.44 per barrel, while U.S. West Texas Intermediate dipped to $57.12. The trade tensions have raised fears of a possible global economic recession, jeopardizing China's oil demand growth. As the situation develops, analysts predict further declines in oil prices.
Source: YAHOO