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Oil prices fall, weekly losses on Trump’s energy plans investing.com are expected


Investing.com- oil prices have fallen at the Asian store on Friday and they started according to a weekly fall because US President Donald Trump invited the lower raw oil prices and more energy production in the US

The markets have also remained nervous about Trump’s plans for trade customs duties against large economies, which could potentially disrupt global trade and burden the demand for oil,

which expires in March it dropped by 0.6% to $ 77.82 per barrel, while it fell 0.6% to $ 74.21 per barrel to 20:32 ET (01:32 GMT).

Both contracts have traded between 3.6% and 4.8% of the week – their worst effect since November.

Nafta affected by Trump’s energy policy

Oil prices broke mostly Trump’s invitation to increase energy production in the United States, and the president has therefore declared a national state of emergency.

Trump has signed an executive command calling for an increase in oil production in the US, and also reduces certain limitations associated with the air conditioning in the energy sector.

On Thursday, Trump called on Saudi Arabia and the organization of oil exporting countries to lower oil prices, which caused further losses in the raw oil markets.

The president’s program of discounts of oil prices is probably guided by his intention to reduce inflation in the US – a scenario that is a good idea for the economy in the long run.

But his calls to lower oil prices are likely to cause different reactions of the energy industry, since lower prices reduce margins. Lower prices also complicate the odds of increasing investment in the energy sector, for which Trump cried.

China PMI, Fed in Focus

Oil markets have now been waiting for key Chinese information for January, which should arrive next week, for more indicators about the world’s largest oil importer.

The focus will be on whether the momentum in the Chinese economy will be transferred from the fourth quarter, after a series of large incentive measures from Beijing.

The Chinese Lunar New Year’s holidays also start next week, announcing increased fuel demand in the country for travel.

In addition to China, the focus is also in the next week, where the central bank is expected to retain interest rates stable after reducing them by 1% to 2024.





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