24 January 2025: 08:30 GMT
Trump can only do so much with his rhetoric, but somehow it works. He spoke, Putin listened and countered, and prices reacted. We are in a juncture where prices are almost fully in the whims of the politicians and a few strong squeezers. Brent flat price rose steadily to begin with today, climbing back towards $79. But 2025 could be The Year of the Headline: Putin said he’s ready to talk to Trump about oil prices and energy, whereupon prices dumped. WTI got hit the hardest and dropped 90c in just a few minutes. The dump took us back to square one where we began the morning and prices go into the weekend far down on Trump’s consecutive comments.
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