Commodities Analysis by Fawad Razaqzada covering: Crude Oil WTI Futures. Read Fawad Razaqzada's latest article on Investing.com
Crude oil prices are pressured downward by rising supply and limited demand, with geopolitical risk premiums decreasing post-Trump's election.
Get ready for massive savings on InvestingPro this Black Friday! Access premium market data and supercharge your research at a discount. Don't miss out -prices rebounded Monday morning after Friday’s 2% drop. Last week saw prices drop around 4% to push prices in the red on the month, after snapping a 3-month losing streak in October.
Additionally, Trump’s victory has led to geopolitical risk premiums being priced out – a trend reflected in the recent drop in gold prices. This shift stems from Trump’s promises to end ongoing conflicts, with markets seemingly optimistic about his ability to broker peace deals in the Middle East and between Ukraine and Russia. However, whether he can deliver on these pledges and the timeline for achieving them remain uncertain.
Every time oil has tried to rally in recent weeks, the sellers have stepped in to slam prices back down. That trend could continue this week after WTI’s positive start today.
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