WASHINGTON (dpa-AFX) - Oil prices fell over 2 percent on Monday as fears of a U.S. recession mounted amid the tariff turmoil.
Benchmark Brent crude futures fell 2.2 percent to $66.50 a barrel in European trade after closing up more than 3 percent on Thursday.
WTI crude futures were down 2.2 percent at $62.59 after settling up 3.5 percent on Thursday, the last settlement day last week because of the Good Friday holiday.
Trade worries mounted after U.S. President Donald Trump on Easter Sunday posted about a 'non-tariff cheating' list, warning trade partners of non-tariff-related offenses that could spoil relations with the United States.
The 8-point list included currency manipulation, export subsidies, counterfeiting, and transshipping to evade tariffs.
Meanwhile, China has warned it will hit back at countries that make deals with the U.S. that hurt Beijing's interests.
The comments came after reports that the U.S. plans to pressure governments to restrict trade with China in exchange for exemptions to U.S. tariffs.
Japan and South Korea have already rebuffed Beijing's suggestion that they form a united front against Trump.
Elsewhere, Ukraine and Russia have accused each other of breaching a 30-hour 'Easter truce' announced by Russian President Vladimir Putin on Saturday.
The brief pause in hostilities-meant to last until midnight Moscow time-was marred by artillery fire, drone strikes, and frontline skirmishes, dashing hopes of a peaceful holiday.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
