Oil: Prices guided by the geopolitics – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts note that following the strike on Saudi oil facilities, the oil price has hovered around USD66-68 per barrel.

Key Quotes

“After Trump Sunday tweeted the US was 'locked and loaded', he yesterday struck a more moderate tone saying the US was in 'no rush' to act. 'We have a lot of options but I'm not looking at options right now.”

“We want to find definitively who did this,' he said, adding that 'this was an attack on Saudi Arabia' and not the US. Among other considerations, going into the election year Trump seems to put a very high priority on sustaining a robust US economy. A US-Iran military conflict would be a clear threat to this.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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