Oil Recoups Some Losses as Markets Digest Trump’s Win
By
Giulia Petroni, Dow Jones Newswires
Oil prices were edging lower in early European trade, but have recovered some of the previous session’s losses after a rise in the U.S. dollar triggered a selloff across the commodities complex.
Brent crude was down 0.2% at $74.74 a barrel, while WTI falls 0.4% at $71.42 a barrel in early European trade. Prices fell nearly 3% on Wednesday after Donald Trump won the U.S. presidential election.
“The impact of a Trump presidency is still uncertain with several opposing forces potentially at play,” including potentially stricter sanctions against Iran but also prospects of more leases for oil-and-gas drilling, analysts at ING said.
