Analyst: Trump withdrew the 20 per cent compensation proposal and crude oil prices fell

The withdrawal by President Trump of a 20 per cent compensation bill for all cargo vessels leaving the Strait of Hormuz led to a fall in crude oil prices. The proposal, which had been unexpected to the market and had contributed to a significant rise in oil prices, had been put on hold. This reversal of the policy reduced the geopolitical risk premium on the crude oil market, prompting traders to respond to yesterday ' s increase. The current price of crude oil has fallen to US$ 77.84, close to the bottom of the trend line, and it is expected that it will continue to rise if it is maintained above that trend line. Conversely, the fall of $75.99 could mean that yesterday ' s breakthrough failed and that in the short term the technology will turn to the blind。