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Oil prices extend sharp falls, Brent lowest since 2021

World News

04-04-2025 | 04:57

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Oil prices extend sharp falls, Brent lowest since 2021

Oil prices extended sharp losses Friday on weak demand concerns caused by U.S. President Donald Trump's tariffs, with Brent North Sea crude hitting the lowest level in over three years.

International benchmark Brent slumped three percent to $68.06 per barrel -- the lowest level since December 2021 -- also after OPEC+ surprisingly hiked output. The main U.S. crude contract, WTI, shed 3.1 percent to $64.86. Both contracts tumbled around 6.5 percent Thursday.

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