Oil prices plummeted to their lowest settlement price of 2025 as traders fled the market due to President Donald Trump’s recent policies, particularly his stance on war and tariffs. West Texas Intermediate crude oil slid 2.3% to close at $71.03 a barrel, marking its lowest closing price of the year so far.
The sell-off was triggered by investors pulling out of the crude and fuel markets, resulting in a net market outflow of $17 billion in the week ending January 31, according to JPMorgan Chase & Co. analyst Tracey Allen. The news comes as investors weigh the impact of Trump’s positions on sentiment, adding to the uncertainty surrounding global energy markets.
Source: https://www.bloomberg.com/news/articles/2025-02-04/latest-oil-market-news-and-analysis-for-february-5