Oil prices Climb 1% Following Selloff

PUKMEDIA

Oil field.

Oil prices gained more than 1% on Tuesday, 8 April 2025, rebounding from a huge selloff to a near four-year low in the previous day.

Brent futures were up 72 cents, or 1.1%, at $64.93 per barrel, while U.S. West Texas Intermediate crude futures rose 75 cents, or 1.2%, to $61.45, at 0535 GMT.

As of Monday, Brent and WTI had slumped 14% and 15% respectively following U.S. President Donald Trump's 2 April 2025 announcement of "reciprocal tariffs" on all imports.

Traders are closely monitoring developments in global trade policies, particularly the effects of U.S. tariffs and China’s retaliatory measures, as well as escalating geopolitical risks, all of which could heavily influence the market direction in the coming weeks.



PUKMEDIA