Oil prices continued to plunge Monday in the fallout from President Donald Trump’s sweeping tariffs, with domestic prices hitting as low as $59 per barrel in early trading.
While prices appeared to recover slightly by midmorning, both international and domestic benchmarks saw prices drop by over 2% around 11:30 a.m. EST. At the time, Brent Crude prices were down 2.09%, trading at $64.21 a barrel. West Texas Intermediate also dropped by 2.58% and was priced at $60.39 per barrel.
The oil sell-off extended the dramatic drop in prices seen Friday when prices fell by about 8% to the lowest levels since 2021.
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Financial institutions also moved to lower their short-term oil forecasts for Brent Crude, with Citi cutting its three-month forecast to $60 per barrel. Goldman Sachs also
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