Oil Prices Plunge Amid Trade War Tensions and Economic Worries
Oil prices drop significantly due to fears of a recession tied to a trade war, with a brief recovery following a tariff pause announcement.

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Summary
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Oil prices fell to a four-year low amidst fears of a recession linked to escalating trade tensions, with U.S. crude hitting $56.98 per barrel before rebounding slightly after President Trump's announcement of a 90-day tariff pause. The fluctuating prices are attributed to a series of new tariffs imposed by the U.S. on China and retaliatory measures from Beijing. Analysts warn of potential economic slowdown, impacting industries like air travel. Historical comparisons show a marked drop from prices last year when crude oil cost $85 per barrel.
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