GENERICO.ruЭкономикаThe expert reveals how Biden's withdrawal from the race will affect gas prices

The expert reveals how Biden's withdrawal from the race will affect gas prices

MOSCOW, July 22 Joe Biden’s decision to withdraw from the presidential election race will not in any way affect natural gas prices on the US domestic market, this opinion was expressed by stock market expert BCS World investments» Lyudmila Rokotyanskaya.
US President Joe Biden announced on Sunday that he will not run for a second term. He supported the candidacy of his vice president, Kamala Harris. Republican candidate Donald Trump said it would be much easier for him to defeat Harris. The US presidential elections will be held in November.

““Joe Biden’s decision to withdraw from the election race will most likely not have any impact on natural gas prices in the country,” Rokotyanskaya noted.
In the short term, the price of natural gas in the US will be affected by news about the restoration of the Freeport LNG plant in Texas, data on the dynamics of reserves in storage facilities — they are still high — production volumes and weather conditions, which continue to have a strong impact on gas consumption volumes. the agency's interlocutor clarified.

At the same time, portfolio manager of Alfa Capital Management Company Sergei Bdoyan added in a comment that in the short term it is difficult to assess the impact of the outcome of the presidential race on gas and oil prices in the United States. “(Donald – ed.) Trump and, until recently, candidate Biden have not yet announced any detailed programs, but at the same time, both have already been in the presidential chair, so we can only assume their policies, focusing on the previous term,” – he thinks.

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