Trump Win Would Have Positive Implications for Oil Sector -- Market Talk

Dow Jones

2024/11/06

1002 GMT - A Donald Trump presidency would likely have positive implications for the entire oil sector and in particular stocks exposed to the U.S oil and gas business such as Tenaris, Equita Research analyst Massimo Bonisoli says in a research note. Trump's election would have positive implications for the sector in the short term. However, it could have negative implications for energy commodities in the medium term due to higher domestic production volumes and from the potential re-entry into the market of sanctioned countries, which would be less supportive for prices. Tenaris shares trade 6% higher at 16.40 euros. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

November 06, 2024 05:02 ET (10:02 GMT)

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