Crude oil futures showed volatility as market participants considered the U.S. election impact, balancing concerns of supply issues against rising inventories and the greenback.
The potential reintroduction of Trump's policies on oil exports from Iran and Venezuela heightens supply anxieties, particularly with Hurricane Rafael impacting Gulf Coast production.
OPEC's increases in supply set for January could lessen immediate supply pressures, even though hurricane disruptions currently strain production in the Gulf of Mexico.
The combination of geopolitical risks and supply concerns suggests a bullish near-term outlook for crude oil, but potential OPEC production increases and inventory levels may impose bearish trends.
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