Election Special: Impact of the US election on oil prices and the US dollar

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Content

• Market view oil: Still range-trading for another week in Brent
  • Impact on oil prices from the US election might be overstated
  • The US dollar and Interest rates to see support from a Trump win
  • Oil price Outlook: We see Brent moving towards USD 80 In 2025
• Market Drivers next week: OPEC might confirm December 1 production Increase
• Hedging views (consumer side):
  • Oil/oil products: Add to consumer hedges when Brent trade in the USD 70-74 range
  • EUA: Buy EUAs when DEC-24 below EUR 64 MT and
  • Gas: Buy when TTF front-month below EUR 36 MWH

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