Oil plunge to four-year lows threatens 'Drill, Baby, Drill'

The plunge in oil prices to four-year lows has seeded doubt as to whether the oil and gas industry will be able to deliver more drilling, as President Donald Trump has sought.

Just after 11 a.m., both domestic and international benchmarks were trading below the $60 per barrel line, with prices reaching their lowest levels since 2021. Brent Crude dipped by 5.36% and was trading at around $59.45 per barrel. West Texas Intermediate also dropped by 5.71% and was priced at $56.18 per barrel.