Daily Oil Fundamentals
The US Will Go it Alone
18 Feb 2025The US Will Go it Alone
Oil prices continue to be muted, mulling varied influences but way too frightened of falling foul of a geopolitical hand grenade that might be tossed from Washington.
Oil prices continue to be muted, mulling varied influences but way too frightened of falling foul of a geopolitical hand grenade that might be tossed from Washington.
President Trump continues to wear the tag of the most influential inhabitant there has ever been in the White House. Doling out his wisdoms and unique take on diplomatic negotiation, markets were forced to ignore such lofty data last week in the form of European GDP, US CPI, PPI and Retail Sales and Jerome Powell’s two-day testimony on Capitol Hill.
The US President can be accused of many things; inertia is not one of them. The tariff merry-go-round keeps spinning and not even God knows when it will stop. In his latest salvo, he promised to introduce reciprocal tariffs on every country, which disincentivises US imports.