Reported about 7 hours ago
Oil prices are set to experience their first weekly drop of the year as Donald Trump hints at potential trade wars and pressures OPEC to reduce prices shortly after taking office. Brent crude fell over 3% this week, hovering around $78 a barrel, while West Texas Intermediate remained above $74. Trump's opening remarks regarding tariffs on Canada, Mexico, and China, alongside his push for lower oil prices from producers, have contributed to this decline. Despite the drop, oil prices remain higher compared to last year due to increased demand during a cold winter and the impact of US sanctions on Russian oil.
Source: YAHOO