London: Oil prices are stable on Wednesday, alternating between a slight decline and a slight increase, with investors struggling to determine the influence on the price of black gold from the election of Donald Trump to the White House. Around 9:35 a.m. GMT (10:35 a.m. CET), the price of a barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea, for delivery in January, loses 0,28% has 74,71 dollars.
Its American equivalent, the barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.), for delivery in December, falls from 0,49%has 71,34 dollars.
???????? “Investors expect a second Trump administration to boost U.S. economic growth and consumption“, says John Plassard, analyst at Mirabaud, thanks to the increase in budgetary spending and the tax cuts he announced during his campaign.
Another bullish factor, the policy of the president-elect”could lead to tougher sanctions against ???????? Iran and ???????? Venezuela“, potentially reducing their production and exports of crude oil to the global market, explains Ole Hvalbye, analyst at SEB.
???????? However, concerns persist that Trump’s trade tariffs could put pressure on China’s economy, dampening demand for oil from the world’s largest importer.
Beijing warned on Thursday that there would be “no winners in a trade war” with Washington.
Furthermore, the future American president also promised to bring down inflation and energy prices. The Republican is a strong supporter of fossil fuels and the market expects favorable conditions for American oil producers, which would lead to even more abundant supply from the United States.
????️ Aside from the US election, the EIA (US Energy Information Agency) reported a larger than expected increase in US crude oil inventories last week (from 2.149 million barrels), more “U.S. oil exports fell sharply, making the week’s statistics a bit unclear“, specify DNB analysts.
(c) AFP
Commenter Oil oscillates, uncertainties about the consequences of a Trump presidency
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