Oil (CL=F, BZ=F) is set to record its first week of declines since the start of 2025 after President Donald Trump commented on lowering oil prices at the World Economic Forum on Thursday. Sankey Research lead analyst Paul Sankey sits down with Madison Mills and Seana Smith on Catalysts to examine the energy sector as investors try to gauge the impact of Trump 2.0. “It’s definitely disconcerting that [the Trump administration keeps] talking about lower oil prices,” Sankey says. He notes there’s a “directly opposing internal inconsistency” within Trump’s rhetoric on energy. Sankey explains, “There’s a very specific concern about pump gasoline prices, and then at the same time, you’ve got things like the tariff threat from Canada … our biggest oil supplier, oil that we also can’t replace.” He adds, “They want lower prices, but a lot of what they’re saying and doing would mean higher prices.” Looking ahead, the analyst notes that natural gas is positioned well for success, given the amount of spending going into artificial intelligence (AI) infrastructure which “obviously, is going to need an absolutely enormous amount of US electricity, and that becomes US natural gas.” There is growing uncertainty about President Trump’s future tariff policy, as the president has seemingly backed away from his harsh pre-inauguration tariff rhetoric. Because of this, Sankey says, “Oil and refining is just much more tricky at the moment.”
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