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Afternoon Crude Oil Product Analysis: What direction will the Crude Oil Product market take in the context of uncertain tariff prospects in the USA?
During the early morning trading session in Asia, the price of Brent Crude Oil Product Futures rose as traders continued to assess the impact of the USA's potential tariffs on its neighbors.
Multiple bearish factors dominate the market, and the decline in oil prices is difficult to stop during the holiday.
In this period (1.23-2.5), Crude Oil Product overall showed a fluctuating downward trend. The average price of WTI this period was $73.10 per barrel, a decrease of $3.87 per barrel compared to the previous period, or -5.03%. During the week, the factors that led to the pressure and decline in oil prices included: OPEC will continue to maintain its production policy, Crude Oil Product production is expected to gradually increase, demand for fuel in the USA is expected to decrease, inventories of Crude Oil Product and RBOB Gasoline in the USA are increasing, and investors are cautious about the tariff policy of the Trump administration. Chapter One: Review of International Crude Oil Market Trends This week’s review of the Crude Oil Product Futures market in this period (1.23-2.5) showed an overall fluctuation.
Trump stated that he will increase oil production in the USA and promised to lower oil prices.
Trump stated that Interior Secretary Doug Burgum will team up with Energy Secretary Chris Wright to increase oil production and lower prices. The USA government will extract more of this liquid Gold than ever before.