The cost of Brent crude oil falls to its lowest level in four years due to tariffs

Published at: 07/04/2025 04:21 PM

The global cost of oil fell by 2.15%, to 64.14 dollars per barrel, in turn, the indicator fell even below 64 dollars for the first time since April 14, 2021. It is also known that May WTI (West Texas Intermediate) futures fell by 2.18% to $60.61.

Brent crude oil is the reference oil in the European market and one of the three main references for oil investors. The other references are WTI and Dubai/Oman

According to research by the news agency Sputnik, more than 2% and at the lowest in the last four years, they mentioned commercial data and comments from analysts around the world.

“Downward risk pressures remain due to the greater possibility of a recession in the United States (USA) and the fact that the supply of the countries of the Organization of Petroleum Exporting Countries (OPEC+) could increase more than expected,” the media said.

It was known that June Brent futures fell to 2.15%, to $64.14 per barrel.

The action takes place as part of the imposition of renewed tariff measures by the US Government. In the face of what happened, the eight member states of the OPEC+ alliance have decided to increase volumes of crude oil extraction.

Mazo News Team