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The main culprit standing in Trump's way of his "drill, baby drill" agenda may be the US oil industry itself, which has boomed in recent years and pushed crude production to historic levels.
Brent crude futures rose to $74.60 a barrel on Tuesday and US West Texas Intermediate crude was up at $71.66 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. For the year ...
NEW YORK (Reuters) -Oil prices fell about 2% to a two-week low on Monday as news of surging interest in Chinese startup DeepSeek's low-cost artificial intelligence (AI) model prompted concerns ...
Oil prices fell after Trump's comments. Brent crude, the international benchmark, was trading at $78.11 per barrel as of 3:22 p.m. ET. Even without OPEC's help, analysts expect a major supply glut ...
"The oil market's attention is slowly turning away from U.S. sanctions against Russia towards President Trump's potential trade policy," said ING analysts, adding that the energy complex has come ...
The mere anticipation of production going materially higher could cause oil prices to "fall at least 10% if not closer to 20%" to the $70 or high-$60s per barrel level, said the analyst.
Oil futures dropped as much as 2% on Wednesday before paring losses as traders weighed what Donald Trump's presidential victory could mean for energy prices.
Oil pumps work at sunset on Wednesday, Sept. 11, 2013, in the desert oil fields of Sakhir, Bahrain. AP/Hasan Jamali President Trump wants to increase drilling to lower oil prices, but producers ...