唐纳德·特朗普已被宣布为美国总统选举的获胜者。尽管并非所有选票都已清点完毕，但美联社和美国主要电视网络已得出结论，特朗普已在选举人团中获得足够票数，赢得总统职位。If Trump wins the election, how will the energy policy change?... Will the oil price rise slightly as a result of increased inventory or the strong US dollar behind it?
As of 04:00 Greenwich Mean Time, the main ICE January Brent crude oil contract price was $75.57 per barrel, up 65 cents from the settlement price on November 6, with the contract price at that time falling 61 cents from the previous trading day.
The New York Mercantile Exchange (Nymex) December crude oil main contract price was $72.23 per barrel, up 54 cents from the settlement price on November 6, with the contract price at that time dropping 30 cents from the previous trading day.
Donald Trump has been declared the winner of the US presidential election. Although not all votes have been counted, the Associated Press and major US television networks have concluded that Trump has garnered enough votes in the electoral college to secure the presidency.
Former President Donald Trump's decisive victory in the presidential election will bring another drastic change in federal policy for the oil & gas industry, by cutting regulations and expanding federal land access to promote producers in expanding capacity.
Meanwhile, Hurricane Raphael has triggered the evacuation of personnel from some oil & gas platforms in the Gulf of Mexico in the United States, and made landfall in western Cuba on November 6 as a Category 3 storm. Oil producers including Shell and BP have evacuated offshore workers in advance.
Due to the increase in US crude oil inventories and the strength of the US dollar, oil prices fell slightly the previous trading day. According to the US Energy Information Administration (EIA) report on November 6, US crude oil inventories increased by 2.1 million barrels last week, with a rise in net imports.
In the week ending on November 1, US crude oil inventories increased to 0.4277 billion barrels, slightly up from the previous week's 0.4255 billion barrels, reaching the highest level since the week ending on August 9. Nevertheless, inventories are still about 8.1 million barrels lower than the same week last year.
The USD rose to its highest level since early July on November 6, measuring the dollar's exchange rate against a basket of other currencies. A stronger USD could potentially dampen the demand for oil, as crude oil priced in USD becomes more expensive for importers.
(The above content is from Argus, an independent international energy and commodity price assessment agency)
