Oil Prices Fall as Trump Inches Toward Victory

Crude oil prices trended lower in midmorning Asian trade today, pressured by the first results from the U.S. elections and the latest weekly U.S. oil inventory report from the American Petroleum Institute. At the time of writing, Brent crude was trading at $73.68 per barrel, with West Texas Intermediate at $70.26 per barrel. Both were down by over 2.4% from the market’s opening. “The initial signs have been favourable for the Republicans and while it's still early days, U.S. yields and the U.S. dollar are both trading higher,”...