Reported about 6 hours ago
As the inauguration of President-elect Donald Trump approaches, oil prices have dipped towards $80 per barrel amid market uncertainty. Trump's administration is expected to implement emergency measures to boost domestic energy production and impose tariffs on trade partners, creating potential ramifications for the oil market, particularly concerning sanctions on countries like Iran and Russia. Increased heating demand due to cold weather and ongoing sanctions have influenced crude price dynamics, with speculators actively betting on future price movements.
Source: YAHOO