Tariff war: oil at its lowest level

This article was automatically translated from HIBAPRESS, the Arabic version:

Hibapress

Oil prices have finished at their lowest level for the second consecutive day, a consequence of Beijing’s retaliatory to the trade war launched by the United States.

Friday evening, the price of the Brent of the Brent of the North Sea, for delivery in June, fell from 6.5% to 65.58 dollars, at the lowest since 2021.

Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in May, sank from 7.40% to 61.99 dollars.

From April 10, China will impose additional customs duties of 34% on American products.

This decision of China accelerated the fall of oil already sealed by the protectionist offensive of the White House, without equivalent since the 1930s.

This response follows the taxation, by the White House, of massive customs duties on all of its business partners. These new surchasters are particularly punitive for China, which will thus see a total of taxes on its products reach 54%.

According to a press release published on Thursday, OPEC+ will “implement an adjustment of the production of 411,000 barrels per day” in May 2025. A decision that continues to surprise the markets since Friday and drop the courses.