Americas News
Bunker Buyers Should Consider Securing Supply Before US Election Result: Nolu Energy
Bunker buyers should consider securing their fuel supply ahead of the US election result being announced, according to marine fuels firm Nolu Energy.
Buyers may benefit from moving in advance of anticipated price volatility following the results, Kenni Goldenbeck, the owner of Nolu Energy, said in a LinkedIn post on Tuesday.
"Purchasing bunkers today allows shipowners to safeguard against potential post-election price hikes or supply disruptions," Goldenbeck said.
"It's a matter of controlling cost."
The firm noted the following advantages of securing bunker fuel in advance of the results:
- Potential Price Volatility: Elections often lead to market fluctuations. By buying bunkers now, you can lock in current rates and mitigate the risk of sudden price increases.
- Supply Security: The election outcome could impact U.S. energy policies, production, and trade, with potential ripple effects on global oil supply. Securing fuel in advance helps reduce exposure to these uncertainties.
- Hedge Against Market Risks: Pre-election periods often see hedging activity in commodities.
Polls open in the US at 05:00 ET on Tuesday in the contest to replace Joe Biden as president. Results are likely to emerge from early on Wednesday morning onwards.
