Crude Oil Drops Post Trump’s Tariff News; Imports Still Exempt (USO:NYSEARCA)

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On April 2, 2025, it was reported that crude oil futures declined following an initial increase during post-settlement trading on Wednesday. This shift occurred as President Trump announced a comprehensive plan to implement reciprocal tariffs on U.S. trading partners. The front-month May contract on the New York Mercantile Exchange recently experienced a decline of 2.8%, settling at $69.69 per barrel.

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