J.P. Morgan forecasts lower oil prices in Trump's upcoming term

seekingalpha11-23

SlavkoSereda/iStock via Getty Images Crude oil futures ended a week of strong gains sparked by rising geopolitical risk, as the Russia-Ukraine war intensified with Ukraine using Western-supplied long-...

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Morgan forecasts lower oil prices in Trump's upcoming term","media":"seekingalpha","content":"<div>\n<p>SlavkoSereda/iStock via Getty Images Crude oil futures ended a week of strong gains sparked by rising geopolitical risk, as the Russia-Ukraine war intensified with Ukraine using Western-supplied long-...</p>\n\n<a href=\"https://seekingalpha.com/news/4323802-jp-morgan-forecasts-lower-oil-prices-in-trumps-upcoming-term\">Source Link</a>\n\n</div>\n","source":"seekingalpha_trending_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>J.P. 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Morgan forecasts lower oil prices in Trump's upcoming term\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-23 08:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4323802-jp-morgan-forecasts-lower-oil-prices-in-trumps-upcoming-term><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SlavkoSereda/iStock via Getty Images Crude oil futures ended a week of strong gains sparked by rising geopolitical risk, as the Russia-Ukraine war intensified with Ukraine using Western-supplied long-...</p>\n\n<a href=\"https://seekingalpha.com/news/4323802-jp-morgan-forecasts-lower-oil-prices-in-trumps-upcoming-term\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UNG","symbol_name":"美国天然气基金","start_time":0,"source_url":"https://seekingalpha.com/news/4323802-jp-morgan-forecasts-lower-oil-prices-in-trumps-upcoming-term","article_id":"2485242946","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1213764535/image_1213764535.jpg?io=getty-c-w750"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485242946","pubTimestamp":1732323039,"columns":[],"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"SlavkoSereda/iStock via Getty Images Crude oil futures ended a week of strong gains sparked by rising geopolitical risk, as the Russia-Ukraine war intensified with Ukraine using Western-supplied long-","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UNG":"美国天然气基金","YPF":"阿根廷YPF","DBO.AU":"Diablo Resources Limited","UNL":"United States 12 Month Natural Gas Fund LP","USL.AU":"Unico Silver Ltd","SEI.AU":"SPECIALITY METALS INTERNATIO","BNO.AU":"Bionomics","FCG":"First Trust Natural Gas ETF","ZIM.AU":"ZIMPLATS HOLDINGS LTD","SMR.AU":"STANMORE RESOURCES LTD","SRL.AU":"SUNRISE ENERGY METALS LTD","SVM":"希尔威","NXE":"Nexgen Energy Ltd.","SKE":"Skeena Resources Ltd","USL":"United States 12 Month Oil Fund LP","FCG.AU":"FREEDOM CARE GROUP HOLDINGS","NXE.AU":"New Energy Minerals","EOSE":"Eos Energy Enterprises Inc.","TBN.AU":"Tamboran Resources Ltd","SRL":"Scully Royalty","KOLD":"两倍做空彭博天然气ETF-ProShares","FCEL":"燃料电池能源","BNO":"美国布伦特原油基金有限合伙企业","INDO":"Indonesia Energy Corp Ltd.","SVM.AU":"SOVEREIGN METALS LTD","UNL.AU":"Unitednetworks","FLNC":"Fluence Energy, Inc.","TPL":"Texas Pacific Land Trust Sub Sha","DBO":"原油ETF-PowerShares","SEI":"Solaris Energy Infrastructure, Inc.","WAVE":"Eco Wave Power Global AB (publ)","GUSH":"Direxion Daily S&P Oil &Gas Exp. & Prod. 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The market is also looking to next month's OPEC+ meeting for a decision on whether to extend production cuts into next year; analysts believe the group probably will, since it would be risky to raise output because of weak demand, and difficult to deepen supply cuts because some members want to pump more. This week's U.S. inventory data, meanwhile, were slightly bearish, with the EIA reporting a 545K-barrel build in crude stocks compared to expectations of an 800K-barrel draw. Front-month Nymex crude (CL1:COM) for January delivery finished the week +6.4% to $71.24/bbl, and front-month January Brent (CO1:COM) closed the week +5.8% to $75.17/bbl, the best settlement for both benchmarks since November 7; on Friday, WTI was up 1.6% and Brent added 1.3%. U.S. natural gas (NG1:COM) pulled back Friday after a five-session rally prompted by the arrival of winter temperatures to drive up demand; the Nymex front-month December contract ended the week +10.8% at $3.129/MMBtu after falling 6.3% on Friday. ETFs: (NYSEARCA:USO), (BNO), (UCO), (SCO), (USL), (DBO), (DRIP), (GUSH), (USOI), (UNG), (BOIL), (KOLD), (UNL), (FCG) J.P. Morgan predicts a decline in oil prices during President-elect Trump's upcoming term, anticipating a large surplus of 1.3M bbl/day and an average Brent price of $73/bbl in 2025, falling to below $60 by 2026. The bank sees global oil demand growth dropping from 1.3M bbl/day this year to 1.1M bbl/day next year, adding that China is expected to lead oil demand growth for the last time before India passes it in 2026. \"Trump's energy agenda presents downside risks to oil prices from deregulation and increased U.S. production, while also posing upside risks by exerting pressure on Iran, Venezuela, and possibly Russia to limit their oil exports and revenues,\" JPM wrote. Goldman Sachs, in its latest forecast, estimated Brent at $76/bbl on average next year, potentially rising to the mid-$80s if supply from Iran drops by 1M bbl/day due to stricter sanctions enforcement. In the medium term, Goldman sees price risks skewed to the downside due to high spare capacity and potentially higher U.S. tariffs hurting demand. Energy, as represented by the Energy Select Sector SPDR Fund (NYSEARCA:XLE), was +2.7% this week. Top 20 gainers in energy and natural resources in the past five days: Nano Nuclear Energy (NNE) +54.8%, Eco Wave Power (WAVE) +53.8%, Solaris Resources (SLSR) +41%, Oklo (OKLO) +40%, U.S. Goldmining (USGO) +35.7%, Fuelcell Energy (FCEL) +34.4%, Nuscale Power (SMR) +31.3%, Icon Energy (ICON) +29.9%, Texas Pacific Land Trust (TPL) +27.2%, Solaris Energy Infrastructure (SEI) +24.4%, Centrus Energy (LEU) +23.8%, YPF Sociedad Anonima (YPF) +23.6%, Eos Energy Enterprises (EOSE) +23.3%, Austin Gold (AUST) +23.2%, Indonesia Energy (INDO) +22.2%, Bloom Energy (BE) +21.8%, Profrac Holding (ACDC) +20.5%, Nexgen Energy (NXE) +20.3%, Fluence Energy (FLNC) +19%, Skeena Resources (SKE) +18.8%. Top 5 decliners in energy and natural resources in the past five days: Battalion Oil (BATL) -46.7%, Silvercorp Metals (SVM) -12.3%, Tamboran Resources (TBN) -10.1%, Scully Royalty (SRL) -9.7%, ZIM Integrated Shipping (ZIM) -8.9%. Source: Barchart.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485242946"}