The price of crude oil dropped to its lowest level since 2021 and is down roughly 20% since President Trump announced tariffs last week. Crude prices fell below $58 a barrel, while a recent survey found producers require an average price of at least $65 to profitably drill.

Oil prices fell due to concerns about President Trump's tariffs and potential global recession, with West Texas Intermediate crude briefly dipping below $60 per barrel.

Many buyers of Venezuelan oil have resumed loading crude onto tankers after a week-long hiatus at the country's ports after the U.S. applied tariffs that President Donald Trump imposed on importers of the OPEC nation's oil,

The slide in crude prices signals deteriorating confidence in the strength of the economy. U.S. oil prices continued to sink Wednesday morning, falling to about $56 a barrel as China said it would match President Trump’s tariffs blow for blow.

The shape of the oil futures curve is rapidly shifting into contango — a fresh sign that traders are hastily dialing back their expectations for global demand this year.

Crude oil price don weak, e don drop more than 12% reach around $65.50 per barrel, afta President Donald Trump slam trade tariffs on plenti kontiris.

Oil prices slumped to a four-year low Wednesday in anticipation of slowing economic growth and reduced energy demand, both casualties of a trade war that began after President