Oil prices edged lower in Asian trade Thursday, extending recent declines as traders braced for higher U.S. crude production under President Donald Trump. Brent futures slipped 0.3% to $78.80 per barrel, while WTI futures fell 0.2% to $75.27.
Crude prices have dropped from six-month highs as uncertainty surrounding Trump’s energy and trade policies loomed. A ceasefire between Israel and Hamas further eased geopolitical risk premiums. Meanwhile, cold weather across the U.S. and Europe increased heating demand, supporting prices. U.S. sanctions on Russia also contributed to tighter supply expectations.
American Petroleum Institute data revealed a 1-million-barrel rise in U.S. inventories last week, breaking a five-week streak of draws. Official inventory data due later Thursday could confirm this trend, though analysts expect crude inventories to have declined while product stockpiles grew.
Trump’s declaration of a national energy emergency and his rollback of climate-related restrictions aim to boost production, which already hit record highs of 13 million barrels per day in 2024. Increased U.S.


Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns
Australia’s Labour Market Weakens as November Employment Drops Sharply
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 



