Significant volatility in the second quarter had global benchmark Brent crude futures dropping to a four-year low of $60.23 a barrel on May 5 and then surging to $78.85 on June 19
The Dow Jones Industrial Average rose 0.17% to 42,279.55, the S&P 500 rose 0.48% to 5,996.40 and the Nasdaq Composite rose 0.61% to 19,565.74.
Brent futures were down 93 cents, or around 1.3%, to $73.30 a barrel by 1307 GMT, while U.S. WTI futures were off 99 cents or nearly 1.4%, to $71.99
Ships transiting Strait of Hormuz, a vital oil artery, put on alert
It was not just Brent that was impacted. Europe's oil and gas stocks toppled back nearly 2%, while government bonds of rival producers from Angola to Nigeria also took a hit
The return of Chinese market participants after a five-day public holiday since May 1 was also seen supporting prices on Tuesday
Saudi Aramco - the world's biggest oil exporter - was one of the biggest losers in the region. The company at one point erased more than $90 billion from its market capitalization
Brent futures dived by $5.30, or 7.6 per cent, to $64.84 a barrel by 1254 GMT. US West Texas Intermediate crude futures lost $5.47, or 8.2 per cent, to $61.48
Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, the world's biggest oil consumer, with much higher duties on products from dozens of countries
Russia is the world's third-largest oil producer and sanctions imposed on its crude exports after its invasion of Ukraine nearly three years ago have supported higher prices
Mexican President Claudia Sheinbaum said U.S. and Mexico teams have started to work on Monday on security and business, adding that she proposed the pause in tariffs to Trump
Supply concerns eased after Libya's National Oil Corp said on Tuesday export activity was running normally after it held talks with protesters demanding a halt of loadings at one its main oil ports
Brent crude futures were down $1.52, or 1.9 per cent, at $78.63 per barrel at 1406 GMT. US West Texas Intermediate crude futures were down by $2.14, or 2.8 per cent, at $75.74
Both benchmarks fell more than 1 per cent on Wednesday as a stronger dollar and the bigger-than-expected rise in US fuel stockpiles weighed on prices
Brent crude futures fell 6 cents to $74.11 a barrel by 0111 GMT while the more active March contract was at $73.73 a barrel, down 6 cents
An output hike of 180,000 bpd - a fraction of the total - was planned for January from the eight members involved in OPEC+'s most recent cuts of 2.2 million bpd. The hike has been delayed from October
Brent crude futures settled at $71.83 a barrel, down $2.04 or 2.76 per cent . US West Texas Intermediate crude futures finished at $68.04 a barrel, down $2.34, or 3.32 per cent
Energy producers shut in more than 22 per centof oil output in the US Gulf of Mexico by Thursday as a precautionary measure to brace against Hurricane Rafael
Oil price today: Crude oil prices tumbled 6 per cent on Monday, with Brent settling under $72 and WTI at $67.38
US Secretary of State Antony Blinken arrived in Israel on Tuesday, the first stop on a Middle East tour in which he will seek to revive talks to end the Gaza war and defuse the spillover conflict