Crude oil prices staged a recovery on Tuesday, reversing the previous day’s steep losses after United States President Donald Trump announced a 90-day pause on reciprocal tariffs for countries that have not retaliated against the U.S., including key importers like India.
The pause, announced late Tuesday via a Truth Social post, helped soothe global commodity markets, which had plunged sharply a day earlier. Trump raised tariffs on Chinese imports from 104% to 125%, but simultaneously extended a 90-day window with reduced 10% reciprocal tariffs for over 75 non-retaliating countries.
Brent crude surged by 6.64% to $65.33 per barrel, while West Texas Intermediate (WTI) also saw a strong bounce, reversing Monday’s fall of over 3.8%. The rally in crude prices reflected improved sentiment on global trade outlooks and the easing of immediate geopolitical pricing pressures.
Indian crude oil futures also reacted positively. On the Multi Commodity Exchange (MCX), crude futures ended the day at ₹5,265 per barrel, up ₹68 or 1.31%, recovering from Monday’s sharp fall of ₹180.
This shift comes after oil prices fell sharply in the previous session, when markets reacted to Trump’s initial sweeping tariff announcement targeting China, the European Union, Japan, and others. The Indian benchmark had then closed at ₹5,017, reflecting global pessimism.
Analysts believe that while the tariff pause offers temporary relief, markets will remain sensitive to any developments surrounding trade talks and global growth projections in the weeks ahead.
