💨 Abstract

Oil prices dropped on Tuesday after U.S. President Trump declared a national energy emergency, raising concerns of increased U.S. output. Brent crude and U.S. West Texas Intermediate (WTI) futures fell due to oversupply fears and decreased demand. The market is expected to be oversupplied this year due to weak economic activity and energy transition efforts. Trump also delayed tariffs on imports from Canada and Mexico, easing concerns among U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖