Trump's Tweets Hurt Oil Prices More Than Help
- Tweets about Saudi Arabia worry market, StanChart says
- U.S. policy usually more successful “the quieter it is”
U.S. President Donald Trump
Photographer: Chris Kleponis/Pool via Bloomberg
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U.S. President Donald Trump’s tweets about OPEC and oil prices are more likely to worry the market and put upward pressure on prices than reassure it.
Trump’s interventions with tweets “unsettle” the market and appear to have pushed prices up, Standard Chartered Plc energy analyst Emily Ashford and head of commodities research Paul Horsnell wrote in a note Tuesday. With oil prices rising ahead of U.S. November midterm elections, Trump has tweeted his frustration three times to no avail.