Oil Falls With Market Assessing Contested U.S. Election Outcome

(Bloomberg) — Oil edged lower as investors awaited the outcome of the tightly contested U.S. presidential election, with Joe Biden on the brink of claiming a victory.Futures in New York were trading below $39 a barrel after bouncing between gains and losses earlier. While predictions for a split Congress is fueling optimism that there will be no major changes to taxes or regulations that have underpinned an equity bull market, it also raises the likelihood of any post-election virus aid package likely being smaller than initially expected.A demand recovery is much needed in the oil market, which is contending with …read more

Source:: Yahoo Finance


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