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OIL: Oil Up on the Week as World Focuses on Growth. 

OIL
BulletEnergy BulletsCommodities
  • Oil markets in Asia have consolidated today as they try to extrapolate Trump’s victory and the potential impact.
  • During Trump’s prior Presidency, key policies were aimed at limiting Iran exports and expectations are that a return to this type of approach is likely.
  • Data out showed that China’s slowdown has had a material impact on oil demand with imports down in October by 2%.
  • The US Fed cut rates by 25bps noting that ‘labour market conditions had eased rather than slowed whilst re-iterating that the incoming US administration will have no impact on the FED’s policy decisions.
  • WTI strengthened into the US close rising from $70.75 to $72.85 trading down to $71.81 in Asia trading.
  • WTI for the week was up +3.3%
  • Brent spoked also from $74.10 to $76 before gently declining during Asia trading to reach $75.15.
  • Brent for the week was up +2.8%
  • Market strategists in Asia are following their US counterparts publishing their view on oil given his policies for growth with a diverse set of outcomes.
  • The Hurricane in the Gulf has hit Cuba and on current projections is unlikely to materially impact oil production.  

 

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  • Oil markets in Asia have consolidated today as they try to extrapolate Trump’s victory and the potential impact.
  • During Trump’s prior Presidency, key policies were aimed at limiting Iran exports and expectations are that a return to this type of approach is likely.
  • Data out showed that China’s slowdown has had a material impact on oil demand with imports down in October by 2%.
  • The US Fed cut rates by 25bps noting that ‘labour market conditions had eased rather than slowed whilst re-iterating that the incoming US administration will have no impact on the FED’s policy decisions.
  • WTI strengthened into the US close rising from $70.75 to $72.85 trading down to $71.81 in Asia trading.
  • WTI for the week was up +3.3%
  • Brent spoked also from $74.10 to $76 before gently declining during Asia trading to reach $75.15.
  • Brent for the week was up +2.8%
  • Market strategists in Asia are following their US counterparts publishing their view on oil given his policies for growth with a diverse set of outcomes.
  • The Hurricane in the Gulf has hit Cuba and on current projections is unlikely to materially impact oil production.