Oil prices plummeted as investors reacted to shifting US trade policy, with West Texas Intermediate falling 3.7% near $60 a barrel. The move followed a brief relief rally on Wednesday, despite President Trump’s surprise announcement of a 90-day tariff halt on dozens of nations. However, the president also raised duties on China to 145%, exacerbating market concerns and driving prices further down.
Source: https://www.bloomberg.com/news/articles/2025-04-09/latest-oil-market-news-and-analysis-for-april-10