International crude oil prices fell on March 28 amid growing market concerns that the United States' tariff war could trigger a global economic recession.

US President Donald Trump plans to announce a new round of reciprocal tariffs on April 2, targeting a wide range of imported goods. JPMorgan analysts have warned that the escalating trade war heightens concerns over a potential global economic recession.

West Texas Intermediate (WTI) crude for May delivery decreased by US$0.56 (0.8%), reaching US$69.36/barrel on the New York Mercantile Exchange. Brent crude for the May delivery fell by US$0.40 (0.5%), settling at US$73.63/barrel.