Fear of Trump's commercial wars push oil prices

Oil prices fell on Wednesday, after US President Donald Trump threatened to impose customs duties on China, which expressed concern about commercial wars on various fronts, with his indication that he could impose large fees on Canada and Mexico. Brent Crude has been trading about $ 79 a barrel since Thursday after a series of declines, while West Texas’ mediator has dropped rough below $ 76. Trump said he is considering imposing 10% of customs on China in response to the flow of Fentanel from the country. At the same time, Canada began to send large amounts of rough to the United States and tried to avoid being affected by potential fees. Trump’s first day began in office with comprehensive executive orders, including changing US energy policies, and the threat of customs duties on Canada and Mexico up to 25%, although the two countries from commodities to the United States, including crude oil treated in US refineries. Canada is trying to avoid graphics. According to Rystad Energy, Canadian suppliers are trying to pay the largest possible rough to the market ‘before the customs tariffs. The Goldman Sachs Group warned last year that the drawings, which may begin from February 1, would lead to a high cost of gasoline for US consumers. RAW was a witness from the beginning of a strong year, after US sanctions on Russia widespread on Russia the oil markets and carriers were upside down. Trump said it would probably impose more sanctions on Moscow if President Vladimir Putin did not come to the negotiating table over Ukraine. Warren Patterson, head of the basic commodity strategy in the Ing group in Singapore, pointed out that “the attention of the oil market is slowly but surely turning away from the risks of Russian sanctions, to the real danger of increasing the tensions.” He added that the threat of customs duties also supported the US dollar.