As the market navigates shifting political and geopolitical hurdles, oil prices remain under pressure from ongoing supply chain disruptions and a sluggish macroeconomic recovery, says Sahdev.
Oil prices have yet to show significant movement following US President Donald Trump’s win, says Mukesh Sahdev, Rystad Energy’s global head of commodity markets for oil.
“Brent has entered a correction phase, ending several weeks of gains after surpassing the US$75-per-barrel mark, pre-victory. This correction reflects expectations of increased US supply and a potential demand slowdown tied to a tariff-driven approach toward key trading partners, particularly China,” says Sahdev in a Nov 7 note.
