From Dow Jones & Company: 2025-04-04 04:17:00

Oil prices are set to drop over 5% this week due to President Trump’s tariffs and OPEC+’s plan for increased supply. Brent fell 1.9% to $68.77 while WTI dropped 2.1% to $65.55 per barrel. Analysts note weakness in longer-dated futures contracts with sharp spread contractions for six and 12-month periods.

Read more: Oil Set for Weekly Loss After Trump’s Tariffs, Surprise OPEC+ Hike