Oil prices soar
April 9, 2025
By Tiphanie Roquette
Oil prices rose sharply on Wednesday after the United States announced a 90-day pause on punitive tariffs affecting multiple countries. The benchmark price of West Texas Intermediate (WTI) crude surged from around $55 to $62 per barrel within a few hours—an abrupt rebound that hasn’t been seen since the pandemic years, according to Martin King, director of North American energy market analysis at RBN Energy.
Despite the jump, prices remain several dollars below...