Mumbai, April 7 -- Crude oil futures plunged over 3 percent to slip below $60 per barrel in early Asian electronic trade on Monday, marking their weakest level since April 2021. The steep fall comes amid deepening fears that the intensifying US-China trade war could cripple global growth and energy consumption. WTI logged its sharpest weekly drop in two years after President Trump unveiled sweeping new tariffs, triggering tit-for-tat retaliation from major trade partners. China, the world's top oil importer, now faces US tariffs on over half its exports and has hit back with a 34 percent levy on American goods. Adding fuel to the fire, Saudi Aramco slashed May crude prices for Asian buyers to a four-month low, coinciding with OPEC+'s unexpe...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.