Markets

CIBC believes upcoming political issues will boost Oil price: report

Commodities specialist Katherine Spector at CIBC Capital Markets has reportedly suggested that many upcoming political issues will end up being favourable to the price of oil, something that would be helpful for energy companies like Suncor Energy (SU.TO).

Key bullish short-term highlights include upcoming Nigerian elections in January, labour strikes in France and heightened noise in Iran, all of which hint to disruptions in supply, shipping and refining, the Financial Post cites Spector as saying.

"While we continue to see anemic economic growth in the first half of 2011 limiting oil price upside next year, both short- and medium-to long-term geopolitical factors tip to the bullish side of the scales, and are arguably underpriced in today's market," she reportedly said in a note.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities