Oil: Prices guided by the geopolitics – Danske Bank

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.”