US crude futures down $1 a barrel on Trump plan to boost fossil fuel output

© Reuters. File Photo: A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier/File photo

BEIJING (Reuters) – U.S. oil prices fell by more than $1 a barrel in early Asian trading on Tuesday after President Donald Trump took office and announced a plan to maximise U.S. oil and gas production by declaring a national emergency.

U.S. crude futures for March delivery fell by $1.06 to $76.33 a barrel by 2315 GMT on Monday.

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