Oil Prices Plummet on Trump Tariff Concerns
Oil prices are down over 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region. Uncertainty surrounding OPEC's production resumption plans in April and ongoing peace talks to end the war in Ukraine also weighed on investor sentiment. The more active May Brent crude futures slipped 88 cents, or 1.20%, to $72.69 a barrel by 1212 GMT.
- As oil prices fluctuate with global tensions, it highlights the interconnectedness of geopolitics and commodity markets, where even minor shifts in policy can send shockwaves through the industry.
- Can policymakers find a balance between economic growth and price stability, or will ongoing trade wars and supply chain disruptions become a permanent fixture of the energy landscape?