Oil prices fell on plan to raise US oil production, cut tariffs By Reuters

BEIJING (Reuters) – U.S. oil prices were down more than $1 a barrel in early Asian trading on Tuesday from Friday’s close after President Donald Trump took office and announced plans to increasing US oil and gas production by declaring a national emergency.

The best-selling WTI contract for March was down $1.02 at $76.37 a barrel by 2356 GMT on Monday.

There was no settlement in the US market on January 20 due to the Martin Luther King holiday.