by Jake Lloyd-Smith
President Donald Trump appears to prefer US oil prices between $40 and $50 a barrel, according to Goldman Sachs Group Inc., citing an in-house analysis of his social-media posts on the topic.
Trump “has always been focused on oil and on US energy dominance, having posted nearly 900 times,” analysts including Daan Struyven said in a report. His “inferred preference for WTI appears to be around $40 to $50 a barrel, where his propensity to post about oil prices bottoms,” they said.
Oil prices — both global crude benchmark Brent, as well as US counterpart West Texas Intermediate, or WTI — are often buffeted by the president’s prolific social-media commentary, which can reference everything from OPEC policy and US gasoline prices to sanctions against nations including Iran. His administration has favored increased domestic production, as well as a broad push for cheap energy to help bring down inflation.
The US leader “tends to call for lower prices (or celebrate falling prices) when WTI is greater than $50,” the analysts said. “In contrast, President Trump has called for higher prices when prices are very low (WTI less than $30) often in the context of supporting US production.”
WTI — which last traded just above $63 a barrel — has shed 12% so far this year, hurt by the fallout from Trump’s trade tariffs, as well as a decision by OPEC+ to loosen supply curbs at a faster-than-expected pace. Still, prices have recovered some ground after the US and China scaled back some levies for 90 days, rising from a four-year closing low seen earlier this month.
The president’s “inferred preference for relatively low oil prices directionally supports our view that oil prices are likely to edge lower in 2025-2026,” the analysts said, while also noting upside risks to expectations given the recent de-escalation of trade tensions between Washington and Beijing.
Copyright Bloomberg News
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.
National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.
While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.
A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave