Oil prices rose as markets began to weigh the potential implications of a second Trump presidency on global energy policies. Brent crude gained 0.7%, trading at $87.65 per barrel, while West Texas Intermediate (WTI) increased 0.8%, reaching $83.42. Investors anticipate that a Trump administration could renew efforts to bolster U.S. energy independence, impacting global supply dynamics.
Trump’s previous presidency was marked by significant deregulation in the energy sector and efforts to support domestic oil production. A similar approach could lead to increased U.S. exports, potentially reshaping OPEC’s influence on prices. As election season intensifies, energy markets are bracing for shifts in geopolitical and trade policies that may emerge if Trump secures another term.
