Oil tanked on Thursday after OPEC+ decides to increase output more than expected, adding to losses sparked by Trump's tariff announcement.

Stocks cratered and bond yields hit their lowest level since October as investors flee risk assets and predict a hit to economic growth.

While U.S. President Donald Trump announced tariffs on allies and foes including Europe, India, Japan and China, some of the world's most heavily sanctioned countries - Russia, Belarus, Cuba and North Korea - avoided being singled out for special punitive treatment.

President Donald Trump's reveal of sweeping import tariffs further darkened the outlook for the global economy and left many questions unanswered. But amid all the policy fog, oil and gas traders can point to a few bright spots.

The OPEC+ is set to meet on Thursday, with a Reuters report suggesting that some members of the cartel will increase production further. The production hike comes amid calls from Trump for the OPEC to help bring down oil prices.

Oil diplomacy could become a hallmark of Donald Trump's second term in office, if the last few weeks are any guide, but energy markets have mostly shrugged off his recent whirlwind of threats against Iran and Russia.

Republicans lose key Wisconsin race despite Musk’s millions, Top AI Researcher Says She’s Leaving Meta Platforms, and more news to start your day.

Oil prices eased on Monday and headed for a modest quarterly loss, despite a warning from U.S. President Donald Trump that he may impose secondary tariffs on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine.

U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States. This "secondary tariff" will take effect on April 2,