Market participants are waiting for signals from Donald Trump about his immediate plans in the energy sector and economic policy.
Global oil prices fell more than 1% ahead of the inauguration of US President-elect Donald Trump. This was confirmed by the trading results on Monday, January 20.
Thus, March futures for Brent oil on the London ICE Futures exchange fell by $1.11 to $79.68 (-1.37%) per barrel.
WTI futures for March delivery on the New York Mercantile Exchange (NYMEX) fell $1.2 to 81.65% (-1.65%) per barrel.
Western agencies write that oil prices are now under the influence of conflicting factors: growth factors associated with changes in China’s economic strategy and increased geopolitical tensions are offset of Donald Trump’s statements about his future energy policy, which is considered bearish for oil prices.
Also, OPEC, after some delay, may start increasing oil production, which will also put pressure on oil prices.
It was previously known that the Trump team will introduce new projects in the field of liquefied natural gas and increase oil production in the United States.
It has also been reported that the new US administration will impose oil sanctions against Russia to encourage it to end the war in Ukraine.
Source: korrespondent
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