The weekend's big story was Italy's descent into political chaos after the country's president blocked the appointment of a eurosceptic candidate for finance minister and the populist/anti-establishment pairing working to form a government abandoned their attempt.
Article / 07 November 2012 at 12:55 GMT

75-second video: Oil, the Obama victory and the fiscal cliff

Head of Commodity Strategy / Saxo Bank

In this 75-second video, Ole Hansen, Commodities Strategist at Saxo Bank in Copenhagen, discusses how anticipation of a Barack Obama win caused the dollar to drop the day before yesterday's US election, which boosted US equity prices and energy markets.

He notes that Hurricane Sandy has reduced the availability of gasoline, which has caused some upside for crude prices, but that the U.S. fiscal cliff will limit upside in the short term.

With spending cuts and tax hikes that could limit demand, the fiscal cliff is a medium-term negative for oil prices, Hansen says.



Massimo Russo Massimo Russo
I don't see clearly the link between Obama election's win and the oil price's movement.
The fiscal cliff is the principal argument that have a linki with the re-election of Obama. About this, I think that the policy strategy of Obama will be more strong on the reforms for to restore the public deficit.
Ole Hansen Ole Hansen
The fiscal cliff would have been an issue no matter who won as Congress remains in a deadlock. Oil markets are worried about the potential negative impact on growth from a failure to reach an agreement. Pressure is on and President and Congress have limited time available to reach a deal or a compromise.
allperformers allperformers
Is it right in saying that Obama secured victory due to his support in the big states? I saw the county wins and the GOP won the interior of the whole of the US. Surely, in any case this is going to be a deadlock as those states are against more QE etc...


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail