Oil slides further as investors eye Trump 2.0 policies; Brent crude hits $78.93/bbl
markets weighed U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and eyed his tariff policies.
Brent crude futures fell 36 cents, or 0.5%, to $78.93 per barrel at 0730 GMT. U.S. West Texas Intermediate crude futures dropped 46 cents, or 0.6%, at $75.37.
The contracts settled lower on Tuesday after Trump laid out a sweeping plan to maximise oil and gas production, including declaring a national energy emergency to speed permitting, rolling back environmental protections, and withdrawing the U.S. from the Paris climate pact.
«Market participants are trying to digest the mixed signals that Trump 2.0 bring for the trajectory for oil prices,» said Yeap Jun Rong, market strategist at IG.
«Near-term focus will be on whether his aim to fill up the U.S. strategic reserves materialises,» said Yeap.
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