Recovery in Oil Prices

After a significant drop to a four-year low, crude oil prices have seen a slight rebound. This recovery comes in the wake of heightened fears over a global recession, sparked by recent announcements from United States President Donald Trump regarding reciprocal tariffs.

Market Reaction

The announcement led to a widespread market selloff, but as of early Tuesday, West Texas Intermediate (WTI) for May's settlements has climbed by 1.37%, selling for $61.48 per barrel. Similarly, Brent for June's deliveries advanced by 1.23%, reaching $65.04 per barrel.

Investors and market watchers are closely monitoring the situation, as the global trade tensions continue to influence market dynamics and commodity prices.