Oil Fell With Ukraine-Russia Truce, US-Iran Talks in Focus

Bloomberg.com · last updated April 20, 2025 – 9:28 PM

Oil retreated as traders fretted about the impact of the US-led trade war on energy demand, while monitoring talks between Washington and Tehran over the Islamic republic’s nuclear program.

Brent fell as much as 2% to below $67 a barrel, while West Texas Intermediate was near $63. Data that’s set to show how President Donald Trump’s trade policies are affecting the global economy could provide fresh evidence of a slowdown, including a revised outlook from the International Monetary Fund.

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