West Texas Intermediate (WTI) crude prices dropped sharply to near $75.50 as markets reacted to former President Trump’s renewed focus on energy policy. Plans to boost U.S. oil production and potentially impose tariffs on foreign oil imports have unsettled traders, raising concerns about oversupply and geopolitical tensions.
The proposed measures aim to bolster domestic energy independence, but analysts warn they could disrupt global markets and weigh on prices. The dip reflects fears that increased U.S. output could exacerbate the current market surplus, pressuring crude benchmarks further. Investors are closely monitoring developments, with many anticipating potential policy announcements to shape short-term price movements.
