Oil falls on prospect of Trump pushing up crude supplies
Brent crude futures were down 50 cents at $77.95 a barrel by 0044 GMT. U.S. West Texas Intermediate crude (WTI) shed 31 cents to $74.31.
Trump, during his speech on Thursday at the World Economic Forum in Davos, Switzerland, said he would demand the Organization of the Petroleum Exporting Countries bring down the cost of crude barrels.
Trump also said he would ask Riyadh to increase a U.S. investment package to $1 trillion, up from $600 billion reported by the Saudi state news agency earlier in the day.
Uncertainty over Trump's tariffs policies, and the potential the newly inaugurated president will push for higher U.S. oil output, also weighed on crude futures, analysts said.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder-
