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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
President Biden’s election campaign could get a boost from OPEC+’s decision to gradually unwind its voluntary cuts, helping ease gasoline prices in the run up to the Nov. 5 poll, Bloomberg said.
- Despite the President having limited control over gasoline prices, it is often a key metric used by voters to determine their voting preference.
- Oil prices have sunk since June 2 when OPEC announced a roadmap for the unwinding of voluntary cuts from Q4 onwards.
- This could weigh on product prices such as gasoline but could also boost global oil flows in the run-up to the election, putting pressure on pump prices.
- Bloomberg cited comments from Moody’s Chief Economist Mark Zandi, who said that “if gasoline falls toward $3 a gallon by Election Day, Biden should win re-election. But if prices rise to more than $4, Donald Trump is more likely to prevail.”
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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