Trump's conflicting remarks pressure on oil prices

Oil prices have dropped to the lowest level this year, with US President Donald Trump dumping the markets with a series of conflicting trade advertising. By April, Brent -Ruol dropped 0.7% to settle at $ 72.53 a barrel, as well as the interim “West Texas”, to a volatile session in which the small trading sizes were inflated, to sit at less than $ 69 a barrel, which is the lowest closing price this year. On Wednesday, Trump made a series of conflicting statements about his plans to impose customs duties on Canada, Mexico and the European Union. Understanding Trump’s actions and the risks of multiple international commercial wars, and thus doubt the expectations of economic growth and energy question in both the United States and China, the largest consumer of crude oil in the world. The US diesel market also showed signs of poor demand, as fuel futures dropped by 1.9%, after the government’s data showed that shares have been blown up more than ever since early January. “Trump’s actions are harmful to the confidence of consumers and business, which will weaken real consumption again,” said Pierny Sheldroub, Seb AB. Trump is entering the markets in chaos, Trump said on Wednesday that the customs duties on Canada and Mexico would continue after he had previously said it would be implemented in early April, that is, about a month after the previous date. The president also indicated that he would impose a 25% fee on the European Union before turning around to talk about customs duties about cars and other matters. The possibility of raising the flow of prices also affected the White House, the Ukrainian President Folodimir Zellinski’s plans to visit the United States, which indicates that Russian crude can flow freely in the near future if a peace agreement is reached. At the same time, Iraq reached an agreement with the Kurdistan region to resume oil exports. The news of trade and supplies has overwhelmed the potential upward developments, including Trump’s announcement that it will end the oil exceptions provided by Joe Biden administration to Venezuelan President Nicholas Maduro, new sanctions against Iranian flow, and the expectations that “OPEC+” will again postpone a plan.