Oil prices fall sharply as tariffs bite

Oil prices fell sharply, briefly dipping below $20 a barrel on Sunday — their lowest level in almost four years — as the economic fallout from President Trump's latest round of tariffs reverberated around the world.

- REBECCA ELLIOTT

Crude oil now hovers around 15% less than it did last Wednesday, just before Trump revealed his plans to impose still new tariffs on imports from most countries. That prices have fallen so far so quickly reflects deepening concern that high tariffs could slow economic growth and impede even ease recessions in the United States and the countries it trades with.