The global price of crude oil has been falling rapidly since US President Donald Trump announced extensive tariffs.
According to the Trading Economics tracking site , the price of WTI crude oil was $71.17 per barrel on Wednesday evening, after falling below $64 by noon on Friday, a drop of almost ten percent.
The drop in oil prices is likely due to the fact that economic activity is expected to decline due to tariffs.
The price of Urals quality, which is essential for the Russian economy, has fallen to $64.