Sunday, May 18, 2025
Energy Transition Outlook Report 2023
HomeOil and GasOil Sinks 8% on China Tariffs, Recession Fears Mount

Oil Sinks 8% on China Tariffs, Recession Fears Mount

Oil prices plunged nearly 8% as China announced sweeping tariffs on U.S. goods, fueling global recession fears and rattling energy markets. Brent and WTI hit four-year lows amid escalating trade tensions and OPEC+ supply moves.
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