Biden has banned new offshore oil drilling along the Atlantic and Pacific coasts of the USA, and it will be difficult for Trump to reverse this decision.

① Biden has permanently prohibited oil companies from obtaining new Oil & Gas drilling leases in approximately 0.625 billion acres of offshore waters; ② The US Energy industry has expressed dissatisfaction and called on Trump to use all tools to overturn this policy; ③ Due to legal restrictions, Trump finds it difficult to simply reverse Biden's decision, while some Republican politicians in coastal states also support this policy.

cls.cnJan 6 21:35

Preparing for "Trump 2.0"? Hedge funds are increasing their Call on oil prices.

Bull positions in Crude Oil have increased by 41% over the past three weeks, with net long positions reaching the highest level since August of last year. For traders more focused on fundamentals, Trump's tough stance on Iran has made them reluctant to short; Trump's potential tariff policies raise inflation concerns, which has also prompted traders to hedge risks by going long on oil.

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