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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Oil prices are declining amid market caution ahead of Trump's inauguration

January, 20 2025
watermark Economic news

Oil prices are showing a decline at the beginning of the week, as market participants prefer to be cautious ahead of the inauguration of the new US President Donald Trump.


According to informed sources, immediately after the inauguration, Trump plans to use special powers in the energy sector to accelerate the implementation of his program to increase domestic energy production. Earlier, he announced his intention to promptly impose trade duties on imports from China, Canada and Mexico, as well as tighten restrictions on Iran.


The price of March futures for Brent crude oil decreased by 0.19%, reaching $80.30 per barrel. WTI crude futures also showed a decrease of $0.05, their price was $76.92 per barrel.


Nevertheless, over the past week, both oil brands have completed trading with positive dynamics. Brent and WTI showed growth of 1.3% and 1.7%, respectively, which was facilitated by new sanctions against the Russian energy sector.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.