
In the early hours of January 17th, Beijing time, US WTI crude oil futures closed down 1.7% on Thursday, erasing Wednesday's gains. The price of West Texas Intermediate (WTI) crude oil futures for February delivery decreased by $1.36, closing at $78.68 a barrel.
On Wednesday, oil prices rose due to the latest US sanctions against Russia. A significant decrease in US crude oil inventories was also a key factor in the price increase, leading WTI crude oil to close up 3.3%, marking its highest closing price since July 19, 2024. The Biden administration imposed hundreds of sanctions, particularly on Russian oil producers and tankers, exacerbating market tensions.
As Trump is set to take the oath of office next Monday, the market has entered a period of observation with investors awaiting the incoming US government's response to the sanctions measures intensified by the Biden administration at the last minute. With increased market uncertainty, oil price trends are influenced by the response to Trump's policies, and investors remain cautious during this transition period.

