WASHINGTON (AP) — Oil prices slumped to a four-year low Wednesday in anticipation of slowing economic growth and reduced energy demand, both casualties of a trade war that began after President Donald Trump ordered widespread tariffs against the imports of U.S. trading partners.
U.S. benchmark crude fell 4.3% to $56.98 per barrel in midday trading on the New York Mercantile Exchange. Prices had fallen further earlier in the day to levels not seen since February 2021, the depth of the COVID-19 pandemic.
Energy prices have fallen remarkably fast, with the cost of a barrel of oil sliding by more than $20 since the start of the year. At this
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