Oil prices fell to January lows

Oil prices fell to January lows on Thursday due to concerns about the possible imposition of U.S. tariffs on oil imports from Mexico and Canada, the largest suppliers of raw materials to the United States. By mid-afternoon, April Brent futures fell by 0.62% to $75.00 per barrel, and WTI - by 0.55% to $72.22.

According to analysts, the imposition of tariffs proposed by Trump is unlikely to have a noticeable impact on oil markets, as traders have already incorporated these risks into current prices. They also point out that this explains the current level of oil prices.

Oil reserves in the United States increased by 3.46 million barrels last week, which coincided with forecasts suggesting an increase of 3.19 million. The reason was a decrease in demand due to winter storms.

Investors are now waiting for the OPEC+ meeting on February 3, where participants will discuss the impact of US measures to increase production. Experts believe that a price war between the United States and OPEC+ is unlikely, as it will cause damage to both sides. Analysts predict that the active use of OPEC+ reserves could reduce Brent prices below $50 per barrel and reduce shale production in the United States.