Oil prices flat with tighter supply cheer offset by Trump caution
Investing.com-- Oil prices moved in a tight range in Asian trade on Monday, as optimism over tighter supplies, amid stricter U.S. sanctions against Russia, was offset by caution before President-elect Donald Trump’s inauguration.
Markets were now focused squarely on Trump’s inauguration later on Monday, with the President-elect having promised increased trade tariffs on top oil importer China. Trump has also vowed to dole out expansionary policies during his term- a trend that could underpin demand in the world’s biggest oil importer. U.S. oil demand was a mixed bag in recent months. While cold weather did spur increased demand for heating fuels, it disrupted travel across large swathes of the country during the travel-heavy year-end holidays.Traders were speculating over a somewhat mixed outlook for oil supply and demand. While recent U.S.
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