Update: WTI Oil Falls Ahead of OPEC+ Weekend Meeting as Trump Threatens Tariffs on Canada and Mexico
WTI Drifts Lower to Near $68.50 on Possible Middle East Ceasefire Deal
Trump Prepares Broad Energy Plan to Boost Gas Exports, Oil Drilling on Day 1 - Report
Middle East tensions are easing! Israel and Hezbollah are reportedly close to reaching a ceasefire agreement.
① The Israeli national security cabinet will meet on Wednesday to approve the ceasefire agreement with Hezbollah, and the final text was confirmed on Monday; ② Affected by the easing of tensions in the Middle East, comex gold futures fell more than 3%, crude oil plummeted 3% during the day, and the usd dropped by 0.5%.
Crude Oil Drops on Report Israel Set for Ceasefire Deal With Hezbollah
On the first day in office, a major energy plan is being launched! The Trump team is preparing to promote henry hub natural gas exports and oil drilling.
Trump's energy plan includes approving new liquefied natural gas project export permits, accelerating oil drilling on the US coast and federal lands, and abolishing a series of climate legislation and environmental regulations implemented by former President Biden.