Ammon News - Oil prices rose more than 1% on Tuesday, rebounding from a hefty selloff to a near four-year low in the previous session on concerns that U.S. tariffs might depress demand and lead to a global recession, though analysts warn downside risks remain.

Brent futures were up 72 cents, or 1.1%, at $64.93 per barrel, while U.S. West Texas Intermediate crude futures rose 75 cents, or 1.2%, to $61.45, at 0535 GMT.

As of Monday, Brent and WTI had slumped 14% and 15% respectively following U.S. President Donald Trump's April 2 announcement of "reciprocal tariffs" on all imports.

Trump maintains that the tariffs - a minimum of 10% for all U.S. imports, with targeted rates of up to 50% - would facilitate the revival of the U.S. industrial base which he says has been declining due to decades of trade liberalisation.

Oil slid 3% on Monday to its weakest level in four years. Reuters