Trump's "Energy card": filling the SPR, lifting the LNG export ban, and exporting USA's energy to the entire world.
In his inaugural address, Trump promised to lower Energy prices, fill the USA Strategic Petroleum Reserve (SPR), lift restrictions on liquefied natural gas (LNG) exports, and export USA's Energy to the entire world. Trump also repeatedly promised to reduce Energy prices by 50% during his campaign. Analysts believe that Trump's commitment to lowering Energy prices by 50% is nearly impossible to achieve. In contrast, even during a global pandemic, which is a major disaster, the average Energy cost for Americans only decreased by less than 20%, and oil producers who verbally support Trump will see their profits squeezed.
Oil's Downturn Temporary? Analyst Eyes Support At US$73
From strong performance to continuous decline: How did Trump shake the oil market?
Has Trump's Energy policy completely changed the oil market landscape? Analysts have differing views; will oil prices fall below $60 per barrel amid the tug-of-war between bulls and bears?
Concerns about the trade war are increasing, and a large amount of Crude Oil Product is flooding into the USA.
Trump's tariff threats have heightened concerns about the Trade war, and Canada has begun to ship Crude Oil Product to the USA in large quantities to complete the Trade before the tariffs are implemented.
WTI Tumbles to Near $75.50 as Trump Plans to Boost Oil Output, Impose Tariffs
Oil Prices Decline Amid Tariff Threats And Trade Concerns