Brent crude falls to its lowest level since 2021

(AFP) Oil prices continued to fall Friday after the United States announced it will implement across-the-board tariffs and Brent barrel, the benchmark in Europe, Africa and the Middle East, reached its lowest level since 2021.

By 08h30 GMT, the price of North Sea Brent for June delivery fell 2.97%, to $68.06, its lowest level since December 2021.

Meanwhile, West Texas Intermediate (WTI), the U.S. benchmark for May delivery, sank 3.12% to $64.86, a low since May 2023.

Oil prices were also hit by an unexpected increase in production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+).

China triggers oil price drop

Oil prices fell more than 5% following China's decision to impose tariffs of 34% on U.S. products in response to tariffs announced by Washington.