Crude slumps to 2021 lows on US tariffs and Opec+ supply surprise

Concerns over supply-demand balance continue to weigh on crude markets and prompt Goldman Sachs to lower price forecasts

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on April 2, 2025. Crude oil prices have tumbled along with other financial markets following the fallout from the US administration's tariffs announcements. — A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on April 2, 2025. Crude oil prices have tumbled along with other financial markets following the fallout from the US administration's tariffs announcements.Photo: AFP/SCANPIX

Nicholas Heath

Enterprise editor

Published 4 April 2025, 11:16Updated 7 April 2025, 09:49