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Oil Falls 3% to Below $100/Barrel But Eyes Weekly Rise Amid Trump's Threats to Iran

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Oil prices fell 3% to below $100 per barrel due to disruptions in the Red Sea and heightened U.S.-Israeli-Iran tensions. However, oil prices are on track to record a weekly gain amid worsening situation in the Middle East and disruptions…

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Oil Falls 3% to Below $100/Barrel But Eyes Weekly Rise Amid Trump's Threats to Iran

Oil prices fell 3% to below $100 per barrel due to disruptions in the Red Sea and heightened U.S.-Israeli-Iran tensions. However, oil prices are on track to record a weekly gain amid worsening situation in the Middle East and disruptions in the Red Sea. The price of Brent crude fell $3.59, or 3.57%, to $97.10 per barrel, while WTI crude is set for an 8% increase. The incident has raised concerns about the global oil market and the potential impact on the economy.

MintNPR

Oil Surges to $100 per Barrel as Trump Imposes New Tariffs

Oil prices have surged to $100 per barrel after Iran-backed Houthi rebels attacked two Saudi tankers in the Red Sea. The attack has disrupted global energy supplies, leading to a significant increase in oil prices. Meanwhile, President Trump has imposed new tariffs on several countries, including India, in response to their failure to impose bans on imports made with forced labour. The tariffs, which range from 10% to 12.5%, are set to take effect immediately. The move is likely to have a significant impact on global trade and the economy.

NPR

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