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The entry of Donald Trump has not caused a decrease in thepriceofoil

Вступление в должность Дональда Трампа не привело к снижению цен на нефть

The President of the US President Donald Trump promised to increase oil and gas production to reduce prices, But the correction of prices is too small, as it’s unclear what steps Trump really plans to take. Circle K Indrek Indrek Sassi noted that Trump has made a number of promises that could reduce prices. In particular, he promised to increase production of fossil fuel, fill strategic reserves of oil and gas in the U.S., and also release new supplies into the world market. But participants in the world market are cautious, and the price for crude oil was down less than
2% on Tuesday. “Trump signed orders to withdraw from the Paris agreement on climate and to develop oil and gas production in Alaska. which could lead to the introduction of new volumes into the market. Also he revoked the decree of previous President Joe Biden on that, that by 2030 half of new vehicles in the U.S. should become electric, and froze until now the unused fund of charging stations. “These steps change the course of climate policy of the
U.S. and in the long-term prospects are affecting world prices for fuel,” explained Sassi. The reason the cautiousness of the market is hidden in the uncertainty about how Trump intends to build relations with Russia. Possible
both tightening sanctions and weakening them. In addition, His decision on Iran and the introduction of possible harder sanctions is expected. The
increasing price factor is the significant increase in industrial production in China in December andexceeding expectations of GDP in 2024 year. “Besides that, the growth of prices is affected by the last package of Joe Biden’s sanctions directed at Russian oil and the shadow fleet. transported 1.6 million barrels of crude oil and 200 thousand barrels of finished products per day. According to the media, the biggest importers of Russian oil, China and India, refuse to receive supplies from sub-sanctioned
ships and have requested from Saudi Arabia additional volumes of 750 thousand barrels per day to replace
Russian oil.” – Sassi talked about the factors keeping world prices for oil from decreasing. His words, the next few weeks will show what the average level of world prices for this winter. “In addition to Trump’s promises the good news for consumers is that a ceasefire between Hamas and Israel has become
enforceableintheMiddle East,AndtheHusitiansaresignalingtostopattacksonshipsintheRedSea,asthemajorcarriershavegivensignals,that transportation through the Suez Canal is still unsafe,” Sassi added.

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