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Oil prices slid about 2% to a near four-year low on Monday as worries grew that new U.S. tariffs would trigger global recession. Brent settled at $64.21 and WTI at $60.70, both down about 11% for the previous week.
Expectations of weaker global growth and fuel demand weigh on crude and related energy prices, which tends to reduce biofuel-linked demand for vegetable oils.
reuters.comScott DisavinoApr 6, 2025After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Brent slid a further ~2% to near a four-year low on recession fears, which adds to the cumulative drop.
Further 2% slide on April 7 to near 4-year low on recession fears extended the five-day decline.
Further decline to near 4-year low on recession fears from tariffs extended the slide within the window.
