Oil jumps 4% after Trump pauses tariffs, raises China levy

Quick Summary:

Oil prices climbed more than 4% on Wednesday, bouncing back from four-year lows earlier in the session, after US President Donald Trump said he would further increase tariffs on China but pause the tariffs he announced last week for most other countries.

China announced additional tariffs on US goods, imposing an 84% tariff on US goods from Thursday.

US West Texas Intermediate crude futures closed US$2.77, or 4.65%, higher at US$62.35.

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Category: EconomyBusiness

Markets: MalaysiaCanadaChinaUnited States

Topics: ChinaTariffs OilPriceJump GlobalRecessionFears /Business/ Commodities CrudeInventories TradeWar TariffPause OPECOutput

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-10 @ 06:21:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 530 words

Reading Time: 3 minutes read

Sentences: 24 lines

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Copyright Owner: © The Star

News ID: 27764686

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