Oil extends losing streak for third straight day on Trump tariffs, OPEC+ hike: Brent at six-month low, WTI drops 4%

News Snapshot:

Global crude oil prices extended their losing streak for the third straight day on Wednesday, March 5, after US crude oil stocks posted a larger build. Investors worried about the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to proceed with output hikes in April and US President Donald Trump's tariffs on Canada, China and Mexico, which triggered trade fears. Brent futures fell $2.19, or 3.1 per cent, to $68.85 a barrel. The US West Texas Intermediate (WTI) crude declined $2.55, or 3.7 per cent, to $65.71 a barrel. The Brent crude benchmark sits at a six-month low below...