International markets witnessed a sharp decline in crude oil prices, with a 7% drop recorded.
According to global media reports, Brent crude oil prices fell by $5.04, reaching $69.91 per barrel, while U.S. crude oil dropped $5.13, settling at $66.58 per barrel.
Meanwhile, natural gas prices rose by 2%, with the new rate standing at $4.14 per MMBtu.
The decline in oil prices follows U.S. President Donald Trump’s decision to impose heavy tariffs on over 100 countries, which disrupted global markets.
Additionally, the OPEC+ alliance's decision to increase oil production earlier than planned further pushed prices downward. In its latest meeting, OPEC+ agreed to boost daily oil production to 411,000 barrels starting in May, surpassing the previous target of 135,000 barrels per day.
