Murban is known for being one of the highest-quality crude oils in the world, extracted from a massive oil field that dates back to 1958, and currently producing about two million barrels a day.

The energy sector was April's worst performer, lagging behind other struggling asset classes, such as equities in the United States and Asia, as oil prices saw their steepest monthly decline since ...

Oilfield service stocks (OIH) also were hit hard, as the tariffs risk throwing supply chains into disarray while plunging oil prices could set the stage for a drop in drilling activity.