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The price of WTI crude oil dropped more than 7% on Thursday as President Donald Trump’s Liberation Day tariffs blitzed markets and OPEC+ threw an unexpected production curveball.
At 10:38 a.m on Friday in New York, Brent crude was trading at $70.21 — a 6.32% slide — while WTI sat at $66.80, down nearly 7%.
The double whammy came as OPEC+ dropped a surprise output hike and Trump lit a fresh round of tariffs aimed at leveling the playing field with other countries.
– Oilprice.com
