Showing posts from November 6, 2022

US Midterm elections: not midterm blues for Democrats, after all

The price of crude oil that had been steadily rising for the past three weeks lost its momentum once again on Tuesday and continued to stay that way on Wednesday, when the markets opened for business. Analysts are divided when it comes to gauging the impact of the outcome of the US midterm elections on the price of crude oil. Judging by the results so far, the final outcome is still too close to call; Democrats can, however, breathe a collective sigh of relief that it was not a spell of midterm blues that they feared over range of critical issues that bother electorate, ranging from energy crises to high inflation. As of 10:30 GMT on Wednesday, the price of WTI, Brent and LNG, liquified natural gas, stood at $88.34, $94.86, and $6.14 respectively. The two major benchmarks of crude oil hit the highest on Monday after a lengthy period of price stagnation - before changing dramatically, a day later. The prevailing sentiments in the markets got a boost during the latter part of the past we

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