💨 Abstract

On Wednesday, oil prices dropped about 3% due to a strengthening U.S. dollar following Donald Trump's election, which investors believe may lead to higher interest rates to combat inflation and further pressure China's economy, reducing oil demand. A Trump presidency could also lead to renewed sanctions on Iran and Venezuela, removing oil from the market, potentially offsetting the bearish impact. Weakening demand signals and a larger-than-expected increase in U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖