Oil prices end up with Trump's promise to increase his country's production

Oil prices have dropped with US President Donald Trump’s promise to increase US RU production, and to postpone the imposition of customs duties that may have limited supplies and harm the demand. Brent -ruol fell by about 1% to almost $ 80 a barrel, while the prices of ‘West Texas’ reach reached February, ending Tuesday, $ 76.89 a barrel. On his first day, Trump will not reveal customs duties against China, Canada or Mexico, and instead he will invite federal agencies to study policy and trade relations of the United States with those countries. Traders watched the danger of Canadian supplies – the largest US importer – after Trump had previously referred to the Prime Minister of Alberta, that oil would not be exempt from any customs fees. The broader markets have found some support through the implementation of any US measures. However, Trump said he would sign a series of executive orders on his first day, including the use of emergency authorities, in hours following the oath of the constitutional oath, as part of his plan to unleash the production of local energy. And he said in his inauguration, “We will dig, my darling, potholes.” Disorders in the market increased the demand for heating at the beginning of the year after the cold weather in the Northern Hemisphere, and the wider US sanctions against the Russian oil industry, customers in Asia, increased at the beginning of the year. A new wave of cold weather in the United States caused the offer on Monday. The additional US sanctions against Russia turned the carrier markets upside down, and the Chinese refineries forced the purchase of barrels from Europe, although the speculators bet that the significant rise in the prices of the Middle East materials followed by the announcement of the sanctions will delay. Scott Besent, Trump’s candidate for the post of Treasury Minister, said last week that he would support the increase in the measures targeting the Russian oil industry, which would probably mean more turmoil in the market. The president’s candidate for the post of national security advisor has previously promised to exert “maximum pressure” on Iran.