Oil prices are set to notch their fourth consecutive weekly gain, with markets grappling with uncertainty around U.S. policies under Donald Trump. Brent crude held steady near $56 per barrel, supported by OPEC production cuts and optimism over global demand. Meanwhile, West Texas Intermediate (WTI) traded near $53, reflecting the market’s cautious optimism.
Trump’s presidency continues to fuel unease in energy markets, with his stance on foreign policy and trade adding a layer of unpredictability. Analysts remain divided on the longer-term implications for oil prices, as heightened geopolitical tensions and potential regulatory shifts under his administration could disrupt supply chains or alter demand trajectories.
Despite this, market fundamentals have provided support, with OPEC-led supply cuts tightening global inventories and demand forecasts painting a positive picture. Investors are watching closely as the new U.S. administration takes shape, signaling potential volatility ahead.
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