US crude oil futures lose $1 per barrel on Trump’s plan to increase fossil fuel production – 01/21/2025

U.S. oil prices fell more than a dollar a barrel in early Asian trading Tuesday, after President Donald Trump took office and announced a plan to maximize U.S. oil and gas production by declaring a national emergency.

U.S. crude futures for March delivery fell $1.06 to $76.33 a barrel around 2315 GMT on Monday.