NNA - Crude oil prices plunged to a fresh four-year low as the US-China trade war escalated. Other economic-growth-sensitive commodities, including iron ore and copper, also slumped in recent sessions amid deteriorating demand outlooks in the world’s largest importer.

Crude oil prices fell for a fourth consecutive trading day on Tuesday, hitting their lowest levels in four years, as recession fears intensified amid a deepening global trade war. US President Donald Trump’s sweeping reciprocal tariffs have now come into effect, with China—currently the world’s largest oil importer—facing 104% import duties.

Since Trump’s announcement of the new tariffs, Brent crude futures have dropped more than 19% to $60.41 per barrel, while West Texas Intermediate (WTI) futures plunged 20% to $57.06 per barrel—both marking their lowest levels since March 2021.—agencies 

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