The possibility of high US stocks pressure oil prices

Oil prices have fallen slightly after an industrial report has indicated the first rise in US crude shares since mid -November, at a time when the market awaits more decisions on the global trade of US President Donald Trump. Brent ruol dropped to below $ 79 a barrel, continuing the chain of losses that started last Thursday, while the West Texas Cross approaches $ 75. The US Petroleum Institute said crude shares increased by one million barrels last week, and fuel supplies rose, according to a “Bloomberg” document. US rough stocks are usually drawn at the end of the evaluation year for tax reasons. Government figures will be released later Thursday. A strong start to crude this year The oil prices are still high this year after a strong start due to the decline in temperature in the northern half of the world, which led to an increase in the demand for heating and the imposition of US sanctions on the Russian oil industry, which changed the markets upside down. India has expanded its support for Russian insurance companies as part of its attempt to maintain the flow of low price barrels. The market is still preparing for procedures by the new Trump administration, following the threats of customs tariffs on China, Canada and Mexico, and warnings against the introduction of more sanctions against Moscow as President Vladimir Putin does not end the war in Ukraine. “The threats of customs duties so far are only threats. Their bargain papers,” says Vandana Harry, Vandand Insights Foundation in Singapore. “There may be cautious optimism that Trump will succeed in bringing the detention with Putin, but the market will need more concrete guarantees” before pricing.