From Investing.com: 2025-04-04 01:23:00

Oil prices suffered their worst day since 2022 due to new tariffs and a surprise OPEC+ supply increase. ICE settled over 6.4% lower, the largest drop since August 2022. OPEC+ plans to raise supply by 411k b/d in May, citing positive market outlook. This move comes amidst tariff uncertainty clouding demand and prices.

Copper and industrial metals slid on Thursday amid concerns over Trump’s tariffs impacting global growth. Although metals were exempt, worries about demand weighed on sentiment. Gold hit a record high before profit-taking. Trade tensions are likely to continue supporting safe-haven buying of gold. China’s reaction to escalating tariffs could influence metal prices.



Read more at Investing.com: Oil Prices Drop After OPEC+ Supply Hike, Tariff Fears