The inauguration of the incoming US President is 12 days away, but his belligerent rhetoric is already sending shivers down the spine of foes and allies. During a press conference, Mr Trump re-issued threats from his first term to buy Greenland and he did not rule out seizing the island by using economic or military coercion on Denmark.
Last year was characterized by a healthy dose of reluctance to react to seemingly positive developments as every attempt to push prices higher brought out willing sellers. Yesterday’s performance mirrored this attitude. A variety of price-supportive factors pushed oil prices to peaks not seen since last October.
The hiatus around Christmas and the New Year usually proves to be a muted affair. Whilst there was nothing unexpected or untoward this time around (Russia’s callous attack on Ukraine on Christmas Eve and New Year's Eve atrocities have become the new norm, alas), our market was indeed upbeat and buoyant.
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