Recovery in Oil Prices

After a significant drop to a four-year low, crude oil prices experienced a slight rebound on Tuesday. This fluctuation comes in the wake of heightened fears of a global recession, triggered by United States President Donald Trump's announcement of reciprocal tariffs.

Market Response

The market's reaction was immediate, with a notable selloff following the announcement. However, by early Tuesday, signs of recovery were evident.

Current Prices

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.