Brent falls to $63.85 on Trump trade moves

Brent crude fell to $63.85 a barrel on Monday, extending losses after hitting its lowest level since 2021 on Friday, pressured by U.S. trade policy signals and price cuts by Saudi Arabia.

At 09:20 Baku time, June Brent futures on ICE were down $1.73, or 2.64%. On Friday, prices slid $4.56, or 6.5%, to $65.58.

Saudi Arabia announced on April 6 it would lower crude prices for Asian buyers by $2.30 a barrel — the steepest cut since October 2022. Prices for the U.S. will be reduced by $0.20, and by $0.50 for Northwest Europe and the Mediterranean.

WTI May futures dropped $1.62, or 2.61%, to $60.37 on NYMEX. The contract fell $4.96, or 7.4%, in the previous session to $61.99, the lowest since April 2021.

Brent lost 10.9% last week, while WTI declined 10.6%.

N.Tebrizli