Saturday, 30 Aug 2025
  • My Feed
  • My Saves
  • History
  • Contact Us
Subscribe
The News Network Africa
  • Home
  • Opinion

    Ghana on the Brink: President Suspends Chief Justice in Unprecedented Move.

    By
    Eric Mafundo

    Buzzing into the Future: The Genetic Modification of Mosquitoes as a Bold Solution to Disease Control.

    By
    Eric Mafundo

    At least 6,000 inmates escape from Mozambique jail: What we know

    By
    nna

    Ghana delayed delivery of 370,000 t of cocoa in the 2023/24 season, official says

    By
    Hayley Sky

    Economic Growth Amidst Adversity: Key Industries Fueling Africa’s Recovery

    By
    Hayley Sky

    Mali Coup Leader Secures Backing to Lead for Next Five Years: A Deep Dive into the Political Shift.

    By
    Eric Mafundo
  • Politics
    From policy to progress: UN deputy chief Mohammed outlines path for Africa’s clean energy transformation

    From policy to progress: UN deputy chief Mohammed outlines path for Africa’s clean energy transformation

    By
    Reporter

    The Intersection of Climate Change and Political Stability in Africa

    By
    Hayley Sky
    Zelensky Cuts South Africa Visit Short Amid Renewed Russian Strikes on Kyiv.

    Zelensky Cuts South Africa Visit Short Amid Renewed Russian Strikes on Kyiv.

    By
    Eric Mafundo
    Namibia’s Hengari Arrested: Rape Accusation Leads to Ministerial Dismissal and Subsequent Detention.

    Namibia’s Hengari Arrested: Rape Accusation Leads to Ministerial Dismissal and Subsequent Detention.

    By
    Eric Mafundo

    Innovations in FinTech: The Future of Banking in Africa

    By
    Correspondent
    Tensions Rise: US Department Condemns South Africa’s Ambassador’s Remarks.

    Tensions Rise: US Department Condemns South Africa’s Ambassador’s Remarks.

    By
    Eric Mafundo
  • Business

    Voices of Africa: Perspectives from Al Jazeera’s Diverse Correspondents

    By
    Hayley Sky
    17 students burnt to death in school fire

    17 students burnt to death in school fire

    By
    nna
    Embracing the Future: The Case for AI Integration in African Schools.

    Embracing the Future: The Case for AI Integration in African Schools.

    By
    Eric Mafundo
    Justice Served: The Conviction of Osinachi Nwachukwu’s Husband for Her Tragic Death.

    Justice Served: The Conviction of Osinachi Nwachukwu’s Husband for Her Tragic Death.

    By
    Eric Mafundo
    South African party accuses white group of treason over Trump attack

    South African party accuses white group of treason over Trump attack

    By
    Hayley Sky
    Celebrating Kidney Awareness: The Importance of World Kidney Day.

    Celebrating Kidney Awareness: The Importance of World Kidney Day.

    By
    Eric Mafundo
  • Pages
    • Advertise with US

Archives

  • August 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024

Categories

  • Agriculture
  • Business
  • Culture
  • Health
  • Lifestyle
  • Minerals
  • News
  • Opinion
  • Politics
  • Technology
  • Travel
  • 🔥
  • News
  • Politics
  • Business
  • Opinion
  • Lifestyle
  • Culture
  • Minerals
  • Health
  • Travel
  • Technology
Font ResizerAa
The News Network AfricaThe News Network Africa
  • My Saves
  • My Feed
  • History
  • Travel
  • Opinion
  • Politics
  • Health
  • Technology
  • News
Search
  • Pages
    • Home
    • Advertise with Us
  • Personalized
    • My Feed
    • My Saves
    • History
  • Categories
    • News
    • Business
    • Minerals
    • Culture
    • Opinion
    • Politics
    • Agriculture
    • Health
    • Technology
    • Travel
Have an existing account? Sign In
Follow US
© 2025 The News Network Africa. All Rights Reserved.
The News Network Africa > Blog > Minerals > Oil prices set to end week lower on Trump energy policies
MineralsNews

Oil prices set to end week lower on Trump energy policies

K Allen
Last updated: 24 January 2025 14:58
K Allen
Share
Oil prices set to end week lower on Trump energy policies
SHARE

Oil prices edged up on Friday but remained on track for a weekly decline after U.S. President Donald Trump announced sweeping plans to boost U.S. production and demanded that OPEC move to lower crude prices.

Brent crude futures gained 25 cents, or 0.3%, to $78.54 a barrel by 1147 GMT while U.S. West Texas Intermediate crude (WTI) was up 22 cents, or 0.3%, at $74.84.

- Advertisement -

Over the week Brent has lost nearly 3% while WTI is down close to 4%.

“After a week of Trump being in office, the various executive orders are not being disruptive to oil supplies. Most of what he has done has been with an inward domestic focus,” said Harry Tchilinguiran at Onyx Capital Group.

“We were looking for pronouncements around tariffs, around Iran, Venezuela and Russia.”

- Advertisement -

Ahead of Trump’s inauguration the market had built up a net long position in oil futures to hedge against price gains arising from supply disruption, but this has now started to unwind, Tchilinguiran said.

Trump told the World Economic Forum on Thursday that he would demand that the Organization of the Petroleum Exporting Countries and its de facto leader, Saudi Arabia, bring down the crude prices.

- Advertisement -

He also said he would ask Riyadh to increase a U.S. investment package to $1 trillion, up from $600 billion reported earlier by the Saudi state news agency.

“I don’t really expect OPEC will change policy unless there is a change in fundamentals,” said UBS commodities analyst Giovanni Staunovo. “Markets will be relatively muted until we get more clarity on sanctions policy and tariffs.”

Trump declared a national energy emergency on Monday, rolling back environmental restrictions on energy infrastructure as part of plans to maximise domestic oil and gas production.

On Wednesday he vowed to hit the European Union with tariffs and impose 25% tariffs on Canada and Mexico. He also said his administration was considering a 10% punitive duty on China.

As attention shifts to a possible February timeline for new tariffs, caution is likely to persist in the market, given potential negative implications for global growth and oil demand prospects, said IG market strategist Yeap Jun Rong.

Traders expect oil prices to range between $76.50 and $78 a barrel, Yeap added.

While bullish catalysts such as a significant drawdown in U.S. crude stocks are providing temporary positive swings, an over-supplied global market and projections of ailing Chinese demand continue to weigh on crude futures, said Priyanka Sachdeva at brokerage Phillip Nova.

U.S. crude inventories last week hit their lowest since March 2022, a U.S. Energy Information Administration report said.

Email Us on editorial@nnafrica.com

TAGGED:Beautiful
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Previous Article Ugandan shilling little-changed against dollar but under pressure Ugandan shilling little-changed against dollar but under pressure
Next Article Kenyan shilling flat against U.S. dollar Kenyan shilling flat against U.S. dollar

Latest Posts

Feel free to mix and match ideas or adjust them to better fit your target audience!
Business
Challenges and Triumphs: Success Stories from Africa’s Startup Ecosystem
Business
Local vs. Global: The Rise of African Brands in the International Market
Business
Innovations in FinTech: The Future of Banking in Africa
Business

Opinions

Kenyan Activist Boniface Mwangi Freed in Tanzania: A Win for Free Speech and Human Rights.
Kenyan Activist Boniface Mwangi Freed in Tanzania: A Win for Free Speech and Human Rights.
Opinion
Drones Reshape the Battlefield: A New Era in Sudan’s Civil War.
Drones Reshape the Battlefield: A New Era in Sudan’s Civil War.
Opinion
Tragedy on the Field: Landmark Case Finds Negligence in Nigerian Player’s Death.
Tragedy on the Field: Landmark Case Finds Negligence in Nigerian Player’s Death.
Opinion
Breaking Barriers: Assefa Sets Women’s Record as Sawe Dominates Men’s Race.
Breaking Barriers: Assefa Sets Women’s Record as Sawe Dominates Men’s Race.
Opinion

You Might Also Like

African leaders call for direct talks with rebels to resolve Congo conflict
News

African leaders call for direct talks with rebels to resolve Congo conflict

By
nna

Cultural Heritage: Preserving Africa’s Diverse Traditions in a Modern World

By
Hayley Sky
Tragic Turn in the Ring: Nigerian Boxer Dies Following Mid-Bout Collapse.
News

Tragic Turn in the Ring: Nigerian Boxer Dies Following Mid-Bout Collapse.

By
Eric Mafundo
Africa Remembers a Voice of Unity: The Legacy of Pope John Paul II.
News

Africa Remembers a Voice of Unity: The Legacy of Pope John Paul II.

By
Eric Mafundo
The News Network Africa
X-twitter Facebook Rss

About US


The News Network Africa: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across minerals, culture, politics, business, tech, entertainment, and more. Your reliable source for 24/7 news.

Top Categories
  • News
  • Opinion
  • Politics
  • Tech
  • Health
  • Travel
Usefull Links
  • Advertise with Us
  • Complaint
  • Privacy Policy
  • Cookie Policy
  • Submit a Tip

© The News Network Africa. All Rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?