It increased by 0.3 %by trading at $ 80.62 … – Automobile Magazine

Petroleum prices, the world’s largest oil importer country, the data indicating that economic activity has increased and the US President Donald Trump, who will begin to work next week, has risen with the impact of uncertainties regarding the policies of Donald Trump.

International indicator Brent crude oil increased by 0.3 %by trading at $ 80,62 per barrel at 10.18 local time at the closing of the previous session.

The US indicator West Texas Intermediate (WTI) increased by 0.4 %to $ 78,13 per barrel compared to the previous session closure to $ 77.77.

According to macroeconomic data released in China on Friday, the country’s economy grew by 5 %last year and met the annual growth target. In addition, the industrial production of the region increased by 6.2 %on an annual basis in December and exceeded forecasts.

While Trump is preparing to start task in the United States, the uncertainties surrounding cabinet candidates continue to affect oil prices in the world’s largest economy.

US Treasury Minister candidate Scott Bessent said it plans to revive the national economy by implementing pro -growth regulatory policies, reducing taxes and taking advantage of American energy.

Christopher Waller, a member of the Federal Reserve Board of Directors, said that if inflation decreases as expected, the Bank could reduce interest rates in the first half of the year.

Waller, inflation data is positive or as long as the current path continues, interest rate cuts can be realized earlier than the markets are currently waiting, he said. He said that if the data remained positive, they could reduce the interest rate 3 to 4 times this year. However, if the data does not support this trend, the number of possible deductions may drop to 2 or even 1.

In the United States, the world’s most consuming country in the world, forecasts for the increase in economic mobility and the revival of demand support prices.

On the other hand, in the January issue of the World Bank’s Global Economic Expectations Report, the gradual decrease in inflation and interest rates is expected to grow by 2.7 percent in 2025 and 2026, as last year.

The possibility of expectations to increase global oil demand in the future contributed to the rise of prices.

Prepared by the news: Duygu Alhan and Hümeyra Ayaz

By Başak Erkalan