Trump sends oil prices down

Expectations about increased US oil production after the exit from the climate plan has sent both of the huge reference oils down under USD 50 per barrel.

Photo: NEXEN

The US retreat from the global climate deal has been launched. While there is broad agreement that the long-term consequences of Trump's move is yet to be seen, it has had an immediate impact on the oil price.

US reference oil WTI, was handled at USD 0.87 lower than the day before, at USD 47.46 per barrel, while European Brent also smoked under the USD 50 market. With a decline of 80 cent, from dawn the price has landed at USD 49.75 per barrel.

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