India, May 6 -- Oil prices jumped nearly 3 percent on Tuesday, after having plunged to their lowest since February 2021 the previous day following OPEC+ decision to boost output and U.S. President Donald Trump's announcement of a 100 percent tariff on all films produced outside the United States.
Benchmark Brent crude futures jumped 2.8 percent to $61.93 a barrel in early European trade while WTI crude futures were up 2.9 percent at $58.77.
Oil prices snapped a two-day decline as rising tensions in the Middle East offset concerns about a potential supply glut and lingering concerns that Trump's protectionist trade policies could hamper global economic growth.
Middle East tensions intensified after Israel launched a counterattack on vario...