From Investing.com: 2025-04-03 00:37:00

Oil prices slumped after Trump’s reciprocal tariffs announcement, with WTI trading below US$70/bbl. Tariffs of 10% on imports from all trading partners and higher tariffs on specific countries raised global demand concerns. OPEC+ meeting today to discuss production targets and unwinding supply cuts. EIA report showed bearish inventory increase.

Gold prices surged to record highs on reciprocal tariffs news, hitting US$3,170/oz. Exemption for gold and metals from tariffs provided relief. Uncertainty remains on trading partners’ retaliation. Relief in metal markets expected. Gold flows into the US may slow down. ING disclaimer: Information provided for informational purposes only.



Read more at Investing.com: Crude Oil Prices Drop as Reciprocal Tariffs Take Effect