January 27, 2025 - CNBC reported Brent crude, the international benchmark for oil prices, tumbled from $80.15 on January 15 to $78 per barrel today, while the West Texas Intermediate (WTI) benchmark fell to $74.

Seeing the chart, it's just a healthy pullback not a correction. Today's price actually still in an uptrend track after oil prices dipped below $70 per barrel since October to November 2024.

Source: GuruFocus Economic Indicator

The crude oil price above refers to WTI benchmark as it is a more preferred oil pricing model in the U.S. And per January 27^th, 2025, oil price is $74.26 and it's $4 higher than in October-November 2024.

The rebound during winter is common as people use more oil-fueled electricity to heat them during the cold season, and this trend is not new, takes place every end-of-year according to past years history if you notice.

And please don't expect price moves in a straight and smooth diagonal line, price dances in ups and downs for whatever reasons in either an uptrend or downtrend range.

Now the prices fluctuate between the resistance level of $81.86 and lower psychological support level of $70 per barrel. We are still in the first month of the year, and the highest of oil price in 2025 was in mid-January where oil touch just slightly above $80 per barrel, took a pullback to $74 today, and CNBC blamed President Donald Trump's trade curbs to impact the oil fall-down.

Blaming president's policy to affect the fall down of oil prices will require more evident before jumping to conclusion as many factors contribute to the fluctuation. Oil price is one commodity that is hard to predict fromtime to time.

In contrast, Trump's decision to revoke the Electric Vehicle (EV) mandate will bolster the market for oil-fueled vehicles that can drive up oil consumption and eventually contribute a factor that can increase oil prices eventually.