Reuters: Trump Is Dragging Oil Prices Down

• 13.02.2026, 13:09

Analysts expect an increase in supply from Venezuela.

Oil prices are down on the morning of February 13 and are on track for a second consecutive weekly drop. This was helped by a decrease in concerns about the conflict between the United States and Iran, reports Reuters.

According to the investing portal, as of 10:24 Kiev time, Brent crude futures were down 2 cents to $67.50 per barrel after falling 2.7% in the previous session. The price of U.S. WTI crude fell 5 cents to $62.79 after falling 2.8%.

Reporters note that oil prices rose earlier in the week due to concerns that the U.S. may attack Iran. At the same time, comments by U.S. President Donald Trump on Feb. 12 that Washington could strike a deal with Tehran within the next month caused oil prices to fall.

"Oil prices fell amid signs that the U.S. is seeking more time to reach a nuclear agreement with Iran, which reduces the short-term geopolitical risk premium," said IG Bank analyst Tony Sycamore.

Additionally, expectations of lower demand for black gold contributed to oil's cheapening. The International Energy Agency predicted in its monthly report on February 12 that global oil demand growth will be weaker than previously expected this year, with total supply exceeding demand.

"Thursday's price decline was reinforced by earlier data on a significant increase in U.S. oil inventories and growing expectations that additional oil from Venezuela could soon come to market," Sycamore added.

Experts also forecast an increase in Venezuelan oil supplies to the market from 880,000 barrels per day to about 1.2 million barrels, while U.S. Energy Secretary Chris Wright predicts that $5 billion worth of Venezuelan oil will be sold in the coming months.