The price of crude oil is settling at $60.70. That is down $1.29 or -2.08%. The zero price is the lowest since April 2021.
Oil prices have dropped 20% following Trump’s April 2 “Liberation Day” announcement, which included steep tariffs on most U.S. trading partners.
The move increased fears of slower economic growth and rising inflation.
Adding to the pressure, OPEC+ announced Thursday it will accelerate the rollback of voluntary production cuts, bringing an additional 411,000 barrels per day to the market next month—further fueling the price decline.
Technically, the price of crude oil fell below its 50% midpoint and swing area between $63.61 and $65.29 (see yellow area on the chart above). The 50% midpoint is between that area at $64.71. Staying below those levels keeps the sellers more in control in the door open for more downside momentum. The low price today reached $58.97. Getting back below that level should open the door for further selling.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about crude oil settles at 60 70 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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