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Crude prices fell by more than 4% in mid-trading on Thursday, April 3, continuing their decline of more than 2% on Wednesday after the US President imposed a series of tariffs amid anticipation of today’s OPEC+ meeting. Nymex crude oil is trading down approximately 4.67%, trading at $68.35 a barrel, while Brent crude is trading at $71.67 a barrel, down approximately 4.38%.<\/span><\/span><\/p>\n Later in yesterday’s session, Wednesday, April 2, US President Donald Trump announced, as scheduled, the final round of tariffs, imposing a minimum of 10% tariffs on countries, scheduled to take effect on April 5. Crude oil prices fell by more than 2% from their highest level recorded during yesterday’s session, affected by these tariffs, which affect economic growth and, consequently, energy demand levels.<\/span><\/span><\/p>\n The U.S. Energy Information Administration’s report released Wednesday showed a rise in inventories of 6.02 million barrels in the week ending March 28, compared to expectations of a decline of about 700,000 barrels. Gasoline inventories fell by about 1.6 million barrels, while distillate inventories, which include heating oil and diesel, also rose by about 300,000 barrels.<\/span><\/span><\/p>\n Crude markets are awaiting a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its non-OPEC allies, the so-called OPEC+ alliance led by Russia, later today. Expectations indicate that the organization will maintain its production policy unchanged, which calls for the planned increase in production to begin on April 1.<\/span><\/span><\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Crude prices fell by more than 4% in mid-trading on Thursday, April 3, continuing their decline of more than 2% on Wednesday after the US President imposed a series of tariffs amid anticipation of today’s OPEC+ meeting. Nymex crude oil is trading down approximately 4.67%, trading at $68.35 a barrel, while Brent crude is trading […]<\/p>\n","protected":false},"author":1,"featured_media":6262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-7399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"\n