Oil has dropped to the lowest closing price this year, as traders have continued to leave the market in the weeks that followed the inauguration of US President Donald Trump. Brent -Ruola dropped April delivery by 2.1% to settle at $ 74.61, and the Western Texas West Media fell 2.3% to vest at $ 71.03 a barrel. Trump’s positions, which included almost everything, from the war in Middle East to Customs to Energy, influenced the feelings of traders in the market. The JP Morgan Chase, Terry Allen, wrote that the withdrawal of investors from RU oil markets led to the $ 17 billion exit in the week ended 31 January. “The traders bet on the direction of crude oil. We see that crude oil will continue to decline until the next geopolitical tension stimulates prices again.” Planning to end the war in Ukraine, the low prices came after a report stating that the Trump administration would reveal plans to end Russia’s war against Ukraine by next week, a step that will reduce the risk of energy supplies. The Chinese reaction also influenced, but the limitation of Trump’s commercial fees, which led to the escalation of the commercial confrontation between the two largest economies, on crude prices. Fouad Razzaq Zada, an analyst at “City Endex” and “Forex.com”, wrote in a memo: “This is proven that the recovery arising from Trump’s plan to impose the biggest pressure on Iran was short -term.” Also read: The shares of ship companies are rising after Trump’s promise to tighten the screws on Iran, adding that prices are under pressure from “the negative impact of the United States and China trade war, as well as the high global supplies.” Although investors regard Trump’s movements as factors that generally pressure prices, its position on the conflict between Israel and Gaza, and the sanctions against Iran can still move the market. The US President on Tuesday signed a richtyt in which Treasury Secretary Scott is asked to use sanctions and apply the measures on Iran more strictly. He also suggested that the United States control the Gaza Strip, a proposal rejected by the Arab countries, including Saudi Arabia, the leader of the OPEC+coalition.
Oil drops this year to the lowest closing price
