Live Oil Prices Crash Below $60 as Tariff War Reaches Boiling Point

Oil markets are reeling as the U.S.-China trade war escalates into a full-blown economic firestorm. China’s latest retaliatory tariffs—slapped on top of Trump’s tit-for-tat measures—have sent shockwaves through global commodity markets, driving oil prices to their lowest since 2021. 

WTI crude plummeted to $55.60, down 6.68%, while Brent crude fell to $58.84, a 6.34% drop. 

The vicious cycle of retaliation has traders on edge, with fears mounting that a global recession could choke energy demand. Analysts warn this is just the beginning—OPEC+ output hikes and weakening Chinese consumption could push prices even lower. Stay tuned as we track this unfolding crisis.