Oil Prices Drop on Thursday

PUKMEDIA

Oil prices.

On Thursday, 3 April 2025, global oil prices declined following the announcement of new U.S. tariffs.

Brent crude futures fell by $1.60, or 2.13%, to $73.35 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped by $1.83, settling at $69.88 per barrel.

The price decline is driven by concerns that the newly imposed tariffs could weaken global demand for crude oil. However, prices remain sensitive to potential supply disruptions amid ongoing geopolitical tensions involving Russia and Iran.

Traders are closely monitoring trade policies and geopolitical developments for further market direction.



PUKMEDIA