<ul><li>Futures of Brent, the global crude oil benchmark, plunged nearly 5% during the trading session on Wednesday, pushing its value below $60 per barrel.</li><li>Since the announcement of reciprocal tariffs by US President Donald Trump, international oil prices have slumped over the past week, falling by over 19%.</li><li>The tariffs have raised concerns of a US recession and impacted global demand. China, the biggest importer of crude oil, has been hit with cumulative tariffs of 104%.</li><li>Goldman Sachs predicts that Brent crude prices could decline to $55 per barrel by December 2026 if the US avoids a recession.</li></ul>

Brent Crude Falls Below $60 Per Barrel, Plunges Nearly 5% Amid Cloud Over Global Demand

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