China's retaliatory tariffs in response to US actions have intensified the economic standoff, causing significant disruption in global commodity markets. WTI and Brent crude oil prices have fallen to their lowest levels since 2021 due to fears of recession and oversupply amidst the ongoing trade war.
Analysts warn that continued trade tensions, combined with OPEC+ output hikes and weakening Chinese consumption, could lead to further declines in oil prices. 1m ago 9:04am CST EU to Roll Out Retaliatory Tariffs Next Week The European Union has joined…Live: Oil Prices Crash Below $60 as Tariff War Reaches Boiling Point
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