Crude Oil Recovers Slightly After Sharp Drop

After a dramatic fall to a four-year low, crude oil prices experienced a modest recovery on Tuesday. This rebound comes in the wake of heightened fears of a global recession, triggered by United States President Donald Trump's announcement of reciprocal tariffs. The initial announcement led to a significant market selloff, casting shadows over global trade prospects.

Market Reaction to Trade Policies

The market's response to the trade war fears was immediate, with prices plummeting before stabilizing slightly. West Texas Intermediate (WTI) for May's settlements saw a 1.37% increase, selling for $61.48 per barrel at 1:20 am ET. Similarly, Brent for June's deliveries advanced by 1.23%, reaching $65.04 per barrel at 1:22 am ET.

Investors remain cautious as the situation unfolds, with many awaiting further developments in the trade negotiations between the U.S. and its partners.