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Oil Extends Rebound From Four-Year Low After Trump Changes Tack

Bloomberg.com · last updated

Oil extended a volatile run as investors grappled with abrupt shifts in US trade policy, with futures returning to losses after a brief relief rally ignited by President Donald Trump’s decision to pause some tariffs.

Brent fell below $64 a barrel after a choppy session that saw prices hit a four-year low before ultimately posting the biggest one-day gain since October. With markets in turmoil, Trump announced a 90-day halt on higher tariffs against dozens of nations, but he also raised duties on China to 125%. Beijing’s top leaders are poised to meet Thursday to discuss additional stimulus.

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