Oil Price after the U.S Election is skyrocketing
Updated: Feb 4, 2021
In early November, Joe Biden was announced as the new president following the U.S Presidential Election, then the following Monday (9 November), we were surprised by the news of new covid-19 vaccination breakthrough, causing oil price to skyrocket. (by Ship & Bunkers).
Compared to 2 November, the VLSFO market shot up by an average of 50-60$ per metric ton across all major ports in the world.
Here are some further articles with other interesting analysis to follow:
What will drive oil price in post Covid?
We’ll continue to keep you updated on these developments in future blogs. For further information or if you have any questions, please contact copemer@copemer.com