‘Seismic’ blue wave triggers the sinking of oil prices, energy stocks, and the chances of power permitting reform

Most energy stocks plunged on Wednesday—except for clean power and utilities in a few remaining reliably red states—as crude oil prices fell to one-month lows because of bullishness on Iran war peace talks and bearishness on the data center boom after Democratic blue wave wins in the midterm elections. Even as Wall Street celebrated the anticipated gridlock from a splintered Congress and White House—the Dow Jones Industrial Average rose 3% Wednesday—most energy companies moved in the opposite direction, especially in states such as Texas that had the most shocking Democratic wins.

Source: Fortune Crypto