How could US midterms impact Oil prices?

Ipek Ozkardeskaya ipekScope

The week started in a slightly better mood for everything other than tech, as oil prices fell sharply on Monday following a report saying that Trump is willing ‘to give diplomacy more time’ to find a solution in Iran. It’s worth what it’s worth, but US crude tanked more than 6.5% to below $96pb at one point, Brent crude fell around 8% towards $103pb, and the decline helped pull yields lower and supported equity valuations across global financial markets. Again, tech stocks couldn’t benefit from yesterday’s improved mood as AI worries outweighed lower oil prices.

Of course, upside risks to oil prices remain, as there has not yet been concrete progress towards resolving the conflict with Iran, while statements inject volatility into a market that lacks credible direction.

Yesterday, we’ve talked about how US midterm results could impact the AI trade. Today, I will lean on what kind of impact the midterm results could have on global energy prices.

Read the full article here.

Author

Ipek Ozkardeskaya

ipekScope

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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