Trump tariff shock sends oil to four-year low

Crude has dropped below $60 a barrel as markets brace for the fallout of the trade war and weaker global demand

Oil prices have dropped to their lowest point in over four years, with losses deepening on Wednesday as markets respond to fears of recession and slowing energy demand.

Brent crude, the global benchmark, fell to about $61 per barrel, while US West Texas Intermediate (WTI) dropped to around $58, both reaching their lowest levels since February 2021.