Oil Steadies After Plunge on Concerns Over Trade War Impact

Bloomberg.com · last updated April 10, 2025 – 9:12 PM

Oil headed for a second weekly loss as mounting disorder in global markets triggered by US President Donald Trump’s aggressive trade policy spurred concerns about a recession and a flight from risk.

Brent fell toward $63 a barrel, and is down almost 4% this week after hitting a four-year low, while West Texas Intermediate was near $60. Frantic selloffs have hit US stocks, bonds and the dollar on rising concerns about the impact of US tariffs, including on China, the biggest crude importer.

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