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Oil falls in price after Trump’s tweet

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Oil falls in price after Trump’s tweet
February 26
09:00 2019

Donald Trump, US President with the odious reputation, was frustrated by the oil growth. Using a personal Twitter account, he requested the OPEC to reduce measures to improve the rate.

Before the US President tweeted, oil remained stable. Then the market slipped a bit. April futures for WTI crude oil have decreased by 1.2% to $ 56.6 per barrel. Contracts for Brent crude oil for April have fallen by 0.7% to $ 66.66.

Throughout the entire 2018, President Trump spoke negatively about the rise in oil prices and always publicly expressed delight about their fall.

Oil began to grow after OPEC+ expressed readiness to reduce production. In February it has surpassed the maximum set in autumn. Since the beginning of this year, the rise in oil prices has amounted to more than 25%.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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