Oil rolls back after rising in the first week of the year

Oil prices are declining on Monday morning after the growth recorded at previous auctions and during the past week.

Brent crude futures for March delivery are trading at $76.19 per barrel, which is $0.32 (0.42%) lower than Friday's closing price. On the last trading day of last week, Brent quotes rose to $76.80 per barrel.

February WTI futures on the New York Stock Exchange fell by $0.3 (0.41%), reaching $73.66 per barrel. Last session, they rose by $0.83 (1.1%) and closed at $73.96 per barrel.

Last week, oil of both brands showed steady growth: Brent rose by 3.7%, and WTI — by 4.8%. One of the factors was the promise of Chinese President Xi Jinping to take additional measures to stimulate the country's economy.

However, investors are expressing concern about the possible consequences of the economic policy of the elected US President Donald Trump. His plans to impose high duties and a strict migration policy raise concerns about the negative impact on the economy. Trump's inauguration is scheduled for January 20.