Oil prices reached the first weekly decline this year, after President Donald Trump raised the possibility of commercial wars, saying he would ask Saudi Arabia and OPEC to lower prices in his first days in the White House. Brent ruol dropped to less than $ 78 a barrel and dropped by more than 3% this week, while the Western Texas mediator was near $ 74. Trump’s first days in the White House began his threats to impose customs duties on Canada, Mexico and China, followed by impeding that he would ask the producer group “reduce the cost of oil”. This has contributed to placing futures on the biggest weekly loss since November, although prices are still this year, after the hard winter in the Northern Hemisphere, this has led to an increase in fuel heating, and the effects of US sanctions on Russia reflected on RU oil market. Trump threatened to impose more sanctions on Moscow if President Vladimir Putin did not reach an ‘agreement’ to end the long war in Ukraine. The widespread US sanctions implemented in the last days of the Joe Biden administration reduced the Russian oil flow, and other vessels increased from the Middle East. This has reduced some Asian oil refineries to the processing of crude oil, or to reduce it. “It will not be easy to persuade OPEC to increase production,” said Warren Patterson, head of the commodity strategy at Ing Group. He added: “Furthermore, the low oil prices will be a hindrance to a significant increase in US oil production.” One of Trump’s executive orders this week was the statement of the state of national energy emergency to help improve local production. During his first term, the president repeatedly called the ‘OPEC+’ to lower prices when he felt very high. Meanwhile, US oil supplies fell for the ninth week in succession, according to a report released by the Energy Information Department on Thursday. Stock is less than the seasonal average for five years of this year of the year, which is in conflict with a former industrial report that is expected to increase the shares.
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