Brent crude and WTI prices tumbled to $94.30 and $87.35 respectively as markets priced in a potentially radical shift in U.S. policy following the Democratic sweep of Congress.
Brent crude was at $94.30 per barrel after dropping 9% on Wednesday, as markets reacted to Democrats winning both houses of Congress and braced for a potentially radical U.S. policy shift. That expectation is bearish for oil over the coming days, though no enacted measures are detailed.
Democrats won majorities in both houses of Congress, and markets are bracing for a potentially radical change in U.S. policies; Brent dropped 9% on Wednesday to $94.30 per barrel.
$94.30 per barrel at the time of writing.
West Texas Intermediate was at $87.35 per barrel after shedding 8% on Wednesday following the Democratic sweep. Markets are pricing a potentially radical U.S. policy change; the article gives no specific measures, so the bearish move rests on expectations.
The Democratic sweep in both houses has markets bracing for a potentially radical change in U.S. policies; WTI shed 8% on Wednesday to $87.35 per barrel.
$87.35 per barrel at the time of writing.
Crude oil prices extended losses as markets reacted to the Democratic party securing majorities in both houses of Congress. Brent crude fell to $94.30 per barrel, while WTI dropped to $87.35, reflecting investor anxiety over potential shifts in U.S. energy and foreign policy. The S&P Energy index also retreated by 4.77% as traders braced for a new legislative landscape.
Markets are reacting to the Democratic party winning majorities in both houses of Congress, which has triggered concerns regarding potential radical changes in U.S. energy and foreign policies.
The S&P Energy index fell by 4.77% to 976.18 as investors sold off energy stocks in response to the shifting political climate.