Recent developments in the oil market have seen prices drop dramatically due to a combination of factors including new tariffs imposed by the Trump administration and an unexpected increase in oil production by OPEC+. Despite exemptions for the energy sector from certain tariffs, concerns over decreased demand and a potential global economic downturn continue to weigh heavily on oil prices. The impact has been significant, with crude oil experiencing its steepest decline in years, falling to multi-year lows as fears of an escalating trade war loom large. The situation is compounded by a retaliatory move from China, which has further exacerbated market instability. Analysts predict continued bearish pressure on oil and natural gas prices as the fallout from tariffs and increased supply mounts.