Oil prices gained more than 2% on Monday, with Brent futures rising above $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetites, offsetting worries about the impact on demand from a worsening coronavirus pandemic. Oil recovered from a 4% decline on Friday, rising along with other financial markets after Biden emerged as the winner in the U.S. presidential race on Sunday. “Trading this morning has a risk-on flavour, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market …read more
Source:: Yahoo Finance
