U.S. oil prices dip below nerve-wracking $60 threshold with record-high production in the balance

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U.S. oil prices dip below nerve-wracking $60 threshold with record-high production in the balance - Fortune

Quick Summary:

The tariff ripple effects should lower fuel prices but put the oil industry in its toughest financial quandary since the pandemic.

The biggest concern for natural-gas producers is whether the tariffs hurt the technology sector to the point it causes a notable slowdown in the data-center construction boom, which is expected to trigger greater natural-gas demand, he said.

The U.S.crude oil benchmark temporarily plunged below the stress-inducing $60 per barrel threshold on Monday amid tariff and economic slowdown fears, putting the nation’s record-high volumes of oil production at risk.