Oil prices swing between profits and losses after Trump's decisions

Oil prices ranged between profits and losses, with traders recording a series of promises and executive orders from President Donald Trump, including the threat of setting up customs duties on Canada, and plans to improve local energy production. After three days of losses, Brent oil was traded over $ 80 a barrel, while the West Texas Raw approaches $ 77. Trump has announced the possibility of imposing up to 25% on the producers of Canada and Mexico by the beginning of next month, and has signed an order to announce the state of national energy emergency. However, Trump refrained from revealing China’s customs duties on the first day of his office, and instead ordered his administration to address unfair trade practices worldwide, according to a statement of facts issued by the White House, seen by “Bloomberg”. More disorders in the market have begun public oil prices, after the cold weather in the Northern Hemisphere led to a great demand for heating, while US sanctions were widespread in the Russian oil industry, global flow. Trump’s candidate told the position of Treasury Minister that he would support increased procedures against Moscow, which could mean more disorder. There is also the possibility of sanctions against Iran and Venezuela. “We are thinking about laying up 25% on Mexico and Canada because it lets a large number of people enter the country. I think we will do it on February 1,” Trump said in response to the journalists’ questions as he sat behind his office in the Oval Office on Monday. Trump added that he intended to fill the US strategic oil “to the top”, after reaching its lowest levels since the eighties of the twentieth century, and signed an order to withdraw from the Paris climate agreement. It also canceled the ban on renting oil and marine gas, which has already drilled in most US coastal waters. Meanwhile, the Houthi group stationed in Yemen said it would stop attacking US and British ships in the Red Sea region, after reaching the ceasefire agreement between Israel and “Hamas”. The campaign of the Iranian group that was traced back to target trade tankers continued for more than a year, led to the core of global trade upside down.