What could come next for the US oil market following the Democratic Party sweep?

🇺🇸 Hellenic Shipping News (US) —

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Oil futures fell sharply after Democratic victories in the U.S. midterm elections were interpreted as reducing the likelihood of escalation between the United States and Iran. December WTI dropped to $87.70 per barrel and January Brent to $94.02, while gasoline futures also declined.

Oil futures fell sharply on Nov. 4 after Democratic victories in the Nov. 3 US midterm elections were seen as lowering the risk of US-Iran escalation. At 1747 GMT, NYMEX December WTI was down $8.39/b at $87.70/b, and ICE January Brent was down $9.58/b at $94.02/b. NYMEX December RBOB fell 20.59 cents/gal to $2.7296/gal and ...

World Conflict Politics Markets Commodities Energy U.S. midterms Democratic Party oil futures WTI Brent U.S.-Iran tensions gasoline

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