Crude Oil slides lower and drops nearly 3% on Wednesday following the US presidential election outcome, which fell in favor of former President Donald Trump. One of Trump’s promises in the campaign running up to the election was to support and
Crude Oil drops over 2.5% on the back of the US presidential election outcome. Tropical storm Rafael fades into the background as Trump secures a new term as US President. The US Dollar Index rallies firmly and gains nearly 2% on Wednesday. open up more drilling for Oil to become a bigger net producer. This would create another imbalance in the markets between supply and demand, with Oil prices likely to trade lower than current levels.
+ producers group said on Sunday they will delay production increases by one month, Reuters reports. At 15:30 GMT, the Energy Information Administration will release its weekly crude report for the week ending on November 1. Expectations are for a build of 1.8 million barrels compared to the previous draw of 0.515 million barrels.
influence the price of WTI Oil? decides to lower quotas, it can tighten supply, pushing up Oil prices. When
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