Oil is blowing its own "Trump"et this morning.
Having sold off 3% in Asia as the election results rolled in, it found its feet along with other stocks and commodities after a magnanimous victory speech by Mr Trump and a perception that he will cut red tape and taxes.
How long the Trump afterglow will last is a matter of conjecture. Less red tape and taxes should theoretically lead to higher oil production in the United States. Not good news for OPEC and non-OPEC members trying to thrash out a production cut. Oil's post election afterglow may turn black gold to fools gold as the street gets back to reality.
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