💰 On Friday, April 4, global oil prices dropped significantly due to new economic measures introduced by U.S. President Donald Trump.
Source: PRYAMYI
🛢️ According to Reuters, Brent crude oil futures fell by 31 cents (0.4%) to $69.83 per barrel. Meanwhile, U.S. WTI crude dropped by 32 cents (0.5%) to $66.63 per barrel.
📆 The decline began after Trump’s announcement on April 2, when during a press conference he called “Liberation Day,” he declared a baseline 10% tariff on all imports to the U.S., along with additional duties on dozens of key trading partners.
🛠️ Additional pressure on the market came from OPEC+’s decision to increase production volumes. The organization agreed to supply 411,000 barrels per day in May — significantly more than the previous plan of 135,000 barrels.