Crude has tumbled from its mid-January highs as the Trump administration’s trade policies threaten a wider economic slowdown and reduce the appeal of riskier assets. On the supply side, an OPEC+ plan to boost production and the prospect of Russian barrels returning to the market also are weighing on prices. Oil briefly swooned to intraday lows after Russian President Vladimir Putin said he’s ready to agree to a ceasefire with Ukraine if it leads to long-lasting peace.
