Oil prices were down in Asian trade Wednesday as early US presidential election results indicate a knife-edge outcome, with market favourite Hillary Clinton struggling in key battleground states.
Oil down on knife-edge vote
At around 0230 GMT, US benchmark West Texas Intermediate for delivery in December was down $1.67 to $43.31
Oil prices dropped in Asia as Donald Trump showed a strong showing against Hillary Clinton in the US election race
Analysts warned it is still too early to predict a winner, despite a strong showing by Donald Trump, with several states still too close to call including all-important Florida and Pennsylvania.
At around 0230 GMT, US benchmark West Texas Intermediate for delivery in December was down $1.67 to $43.31 and Brent crude for January tumbled $1.46 to $44.58.
Jeffrey Halley, a senior market analyst at OANDA, said the election results were set to drive trade all day, as the world waited anxiously for results.
ADVERTISEMENT
"Trading is expected to be very choppy throughout the day because markets seem to be moving back and forth according to the ebbs and flows of the voting results that are coming in," Halley told AFP.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Tinubu secures $600m seaport investment from Danish company
‘Warri Boys in Lagos’ launches ₦1bn appeal fund for multipurpose complex
Tinubu grants approval for design of Sokoto-Badagry Coastal Highway - Umahi
Ganduje: IGP lauded for withdrawing police attached to Kano anti-graft commission
Gunmen brutally murder Aiyedatiwa’s campaign coordinator in front of his house
Tinubu best thing to happen to northern Nigeria - Arewa group
Nursing mothers lament high cost of diapers, mull alternative
PDP wins chairmanship seats in all 33 LGs in Oyo State
Air Force strikes terrorists in Niger and economic saboteurs in Niger Delta
ADVERTISEMENT