Oil nears $100 as Democrats’ win unsettles energy stocks

Oil prices have surged towards the $100 per barrel mark following the Democratic Party’s successful election results, which have unsettled energy stocks. Brent crude rose by 3.9%, reaching approximately $98.29 per barrel, while WTI crude also saw an increase. This comes after a significant drop in prices in the previous session, driven by expectations of potential political changes affecting the Iran conflict. The S&P 500 Energy Index experienced a decline of 4.8% amid these shifts, highlighting market volatility influenced by geopolitical considerations.

Source: Crypto Briefing