Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up

The price of WTI crude oil dropped more than 7% on Thursday as President Donald Trump’s Liberation Day tariffs blitzed markets and OPEC+ threw an unexpected production curveball. At 10:38 a.m. in New York, Brent crude was trading at $70.21—a 6.32% slide—while WTI sat at $66.80, down nearly 7%. The double whammy came as OPEC+ dropped a surprise output hike and Trump lit a fresh round of tariffs aimed at leveling the playing field with other countries. Eight OPEC+ nations announced Thursday they’ll raise output by 411,000…