Crude oil prices extended losses on Friday as markets worry about a possible drop in demand resulting from trade tariffs imposed by the United States. Meanwhile, OPEC+ announced yesterday that it will increase output by 411,000 barrels per day in May, more than expected.
West Texas Intermediate for deliveries in May plummeted by 4.57% at 6:19 am ET, going for $63.87 per barrel. Brent for settlements in June dropped 4.19% and sold for $67.09 per barrel.
