Commodities tied to clean energy and electrification showed resilience in 2024, despite the global manufacturing slowdown and Trump’s roll back of “green” agenda items.

On the first day of his Presidency, Donald Trump declared an “energy emergency”. It is part of a raft of measures to boost America’s already colossal fossil fuel production, backed up by claims that the country needs to tackle high energy prices and prepare for increased demand from “the next generation of technology”.

The president said he’d declare an energy emergency, increase drilling and end support for electric cars. His pivot to oil and gas follows the hottest year in recorded history.

In his first hours in the White House, President Trump ordered the government to resume processing LNG export permits, reversed actions to close parts of Alaska and federal

U.S. oil prices were down by more than $1 a barrel in early Asian trading on Tuesday from Friday's close after President Donald Trump took office and announced a plan to maximise U.S. oil and gas production by declaring a national emergency.

Legal experts said the president was testing the boundaries of executive power with aggressive orders designed to stop the country from transitioning to renewable energy.