WS #16854
Brent crude fell nearly 3% to $93 as the Democrat sweep in US midterms was interpreted as a rejection of Trump's aggressive foreign policy, easing supply disruption fears in the Middle East. This political de-escalation is countering the underlying canonical escalation theme, leading to a sharp repricing of energy assets and a flight to safety in gold, which climbed 2.75%.
Oil Crash on Political De-escalation
Brent crude fell nearly 3% to $93 as the Democrat sweep in US midterms was interpreted as a rejection of Trump's aggressive foreign policy, easing supply disruption fears in the Middle East. This political de-escalation is countering the underlying canonical escalation theme, leading to a sharp repricing of energy assets and a flight to safety in gold, which climbed 2.75%.