November 27, 2024 16:42 GMT
MNI Commodity Weekly: Oil Markets Assess Trump Impact
Executive Summary:
- Oil Markets Assess Potential Trump Impact: The new U.S. presidency offers a significant shake up for oil markets, most notable in the short term on potentially harsher Venezuela/Iran sanctions and possible Canada/Mexico tariffs.
- Oil Market: Crude markets have eased back from a high on Nov. 22 with easing Middle East risk premium weighed with uncertain fundamentals ahead of the OPEC+ minister meeting on Dec. 1. Diesel cracks reached the highest since July on Nov. 26 while gasoline cracks have lost ground although increased travel during the upcoming Thanksgiving holiday could provide a boost.
- Analyst Views: See oil market outlooks by biggest names in industry.
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