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GRM: American election will not affect oil prices

The oil price has most likely found its level between USD 100 and 112 regardless of the outcome of the American presidential election, Global Risk Management analysts think. Next year, two decisive factors may cause a change in the price.

Whether it will be the Barack Obama, the Democrat, or Mitt Romney, the Republican, who will win the American presidential election tomorrow, the oil price will not be affected, Global Risk Management Oil Analyst, Michael Poulsen assesses in an interview with ShippingWatch.

No matter who will win, the political consequences and the effect on the energy issue will not be felt until well into the beginning of 2013. That is also why the price has found a stable level up to the election and is most likely to stay at the level of USD 100 to 112 for the remainder of the year, Michael Poulsen says.

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