Ammon News - Oil prices fell for a second day on Tuesday, as concerns mounted over a potential U.S. recession, the impact of tariffs on global growth and as OPEC+ sets its sight on ramping up supply.

Brent futures fell 6 cents, or 0.1%, to $69.22 a barrel at 0402 GMT, while U.S. West Texas Intermediate crude futures lost 13 cents, or 0.2%, to $65.90 a barrel.

U.S. President Donald Trump's protectionist policies have roiled markets across the world, with Trump imposing and then delaying tariffs on his country's biggest oil suppliers, Canada and Mexico, while also raising duties on Chinese goods. China and Canada have responded with tariffs of their own.

Stocks, which crude prices often follow, slumped on Monday, with all three major U.S. indexes suffering sharp declines. The S&P 500 had its biggest one-day drop since December 18 and the Nasdaq slid 4.0%, its biggest single-day percentage drop since September 2022. Reuters