TEHRAN- Iran’s light crude oil price fell $2.31 in the week ended on April 6 to settle at $64.34 per barrel, Shana reported on Wednesday.

Iran’s heavy crude oil also experienced a $1.48 fall in the said week to settle at $63.52 per barrel.

During the said week, Organization of Petroleum Exporting Countries (OPEC)’s basket price stood at $65.11 per barrel with $1.28 decrease compared to the preceding week.

Oil prices fell in the mentioned week after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world's two largest economies that could hurt global growth.

Trump said he had ordered U.S. trade officials to consider tariffs on an extra $100 billion of imports from China, escalating tensions with Beijing.

EF/MA