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Oil Extends Losing Streak on Tariff Uncertainty
Crude oil prices extended their decline from Tuesday following remarks by the U.S. Commerce Secretary that some tariffs on Mexico and Canada could be rolled back, boosting uncertainty. The news that OPEC+ had decided to go ahead with its April wind-down of production cuts also continued to weigh on prices, after plunging them lower earlier this week. At the time of writing, Brent crude was trading at $70.87 per barrel, with West Texas Intermediate at $67.75 per barrel, both down from opening. The “OPEC+ decision to start increasing production…