At 12:10 PM in Lisbon, the North Sea oil, a benchmark in Europe, fell to $60.65 on the London futures market, down 3.5% from Tuesday ($62.82) and 19% lower than on April 2nd ($74.95).
The crude oil prices are at a four-year low, having been at $74.95 before the United States President, Donald Trump, announced new tariffs a week ago.
Brent crude oil dropped 6.42% last Thursday, 6.5% on Friday, 2.09% on Monday, and 2.16% on Tuesday, amid concerns that the trade war initiated by Trump could lead to a recession.
Meanwhile, the price of Texas Intermediate Crude Oil (WTI) fell by 4.19% on Wednesday before the official market opening to $57.11.
