03-04-2025
- Business
- Wall Street Journal
Oil Slides as Trump Tariff Announcement Sparks Fears of Global Slowdown
0039 GMT — Oil slides in the morning Asian session as President Trump's tariff announcement sparks fears of a global economic slowdown that could reduce oil demand. The 'tariffs were more aggressive, more immediate, more broad, and seemingly more permanent than markets were expecting,' TD Securities' Rich Kelly says in a research report. Crude oil prices will likely be tied to worse-than-expected macroeconomic implications from the tariffs, the head of Global Strategy adds. Front-month WTI crude oil futures slide 2.8% to $69.70/bbl; front-month Brent crude oil futures drop 2.7% to $72.92/bbl. (
