Oil Slumps By Over 2% On U.S. Trade Threats, Demand Concerns
1. Global oil prices declined due to demand concerns and U.S. tariff talks. 2. Brent and WTI futures both saw substantial price drops of over 2%. 3. Ukraine's drone strikes disrupted 17% of Russia's refining capacity. 4. U.S. plans tariffs on Indian oil may negatively impact global oil demand. 5. High non-OPEC production could lead to an oil surplus in upcoming years.