On Thursday, the price of oil continued to fall after the US presidential election, succumbing to the pressure of the rising dollar. The price of Brent decreased by 0.6% to $74.15, and WTI — by 0.88% to $70.97. Experts note that the strengthening of the dollar and weak demand are putting pressure on the price of oil. At the same time, potential price growth factors are associated with the possibility of tougher sanctions against Iran and Venezuela, as well as the risks of geopolitical aggravation in the Middle East. Analysts believe that in the short term, oil prices may continue to decline unless serious geopolitical events occur. Other experts believe that Trump's policy aimed at supporting business can contribute to the growth of the economy and fuel demand. However, intervention in the Fed's easing policy may have a negative impact on the oil market. Additional pressure on prices is exerted by a decrease in oil imports to China and an increase in oil reserves in the United States. It is expected that Trump will resume the policy of sanctions against Iranian oil, which may lead to a reduction in supplies. This, in turn, may have an impact on prices in the future.
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