Oil prices slid Friday to their lowest levels in nearly four years. A plan to increase supply by the Organization of the Petroleum Exporting Countries and its allies added to fears that tariffs will plunge the global economy into recession.

The price of oil in the global market plunged further Friday morning to the lowest levels since 2021. Just after 11 a.m. EST, both international and domestic benchmark oil prices had dropped by around 8%,

Oil prices plunged 7% on Friday to settle at their lowest in over three years as China ramped up tariffs on U.S. goods, escalating a trade war that has led investors to price in a higher probability of recession.

Global stock markets and oil prices tumbled again on Friday as China struck back against U.S. President Donald Trump's tariffs and worries mounted about a prolonged global trade war. The Nasdaq Composite was headed toward a bear market,

Fears that President Trump’s tariffs could slash global economic growth — and demand for oil — are weighing on the market.