The U.S. presidential election has continued to roil international financial markets, with major markets including the oil market volatile recently. On The 3rd, the DOLLAR index fell sharply and the international oil price rose significantly.

In addition, the release by Opec + of the possibility of continuing current production cuts in January was the main reason for the price rise.

As polls closed on Election day and votes were counted, the us election was the main driver of market volatility. Anz said markets remained cautious as the US election campaign began. There are significant differences in the two parties' energy policy frameworks, which could affect oil demand.

Mark Haefer, global chief investment officer at UBS Wealth Management, said on Tuesday that the outcome of the US election is likely to have a significant impact on US fiscal policy and the response to the COVID-19 outbreak, as well as a range of implications for sectors such as green energy and fossil fuels.

In the short term, market analysts believe the possibility of a larger fiscal stimulus in the US will also be more uncertain for oil prices.

The US is by far the largest producer and consumer of oil, and the huge increase in shale oil and gas production has given it greater influence on the crude oil trading market. At the same time, the United States has influenced oil prices through geopolitical means, from the historic deal this year between Opec and Russia and other countries to clamp down on crude exports from producers like Iran and Venezuela.

The U.S. oil and gas industry is also concerned about the potential impact of fracking on shale oil and gas in the future, so Texas oil companies have been stockpiling blocks ahead of the election.

From the perspective of the supply side of the international crude oil market, the production policies of oil-producing countries are also in the adjustment period, and the international oil price may fluctuate widely during this period.

From the perspective that US energy policy will not change overnight, it will take some time for the oil market to react to post-election policy and its implications, said Andy Lippo, President of Lippo Oil Associates.

Standard & Poor's experts believe middle Eastern oil producers will fill the gap as U.S. crude oil supplies are expected to decline in the future.

In addition, in the current situation of the outbreak is difficult to eliminate in the short term, oil producers need to re-coordinate the policy of production cuts, oil prices undoubtedly face greater volatility.

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