Oil Prices Take a Hit Amid Global Trade War Concerns

In a significant market movement, oil prices experienced a sharp decline, dropping nearly 4% as fears of a global trade war intensify. As of 7:28 pm ET, the figures were alarming for investors and analysts alike.

West Texas Intermediate for May deliveries was down 3.86% at $59.60 a barrel, while Brent for June settlements fell 4.03% to $63.37.

What This Means for the Global Market

The sudden drop in oil prices reflects growing concerns over a potential global trade war, which could have far-reaching effects on economies worldwide. Investors are closely monitoring the situation, bracing for possible volatility in the coming days.

More updates to follow as the situation develops...