International crude oil prices fell on April 8, hitting a four-year low, as investors anticipated that an escalating trade war between the United States and China would increase the possibility of an economic recession.

West Texas Intermediate (WTI) crude for May delivery decreased by US$1.12 (1.85%), reaching US$59.58/barrel on the New York Mercantile Exchange. Brent crude for the May delivery dropped by US$1.39 (2.16%), settling at US$62.82/barrel.