Oil Prices Stabilize Following Post-Election Selloff

Crude oil prices bounced back in early Asian trading, following a post-election selloff, before stabilizing and trading flat. Yesterday’s selloff was sparked by the news that Donald Trump has won the U.S. presidential election, with the Republicans also winning control of the Senate and, likely, the House of Representatives. At the time of writing, Brent crude was trading just under $75 per barrel and West Texas Intermediate was changing hands at $71.63 per barrel, both up from Wednesday. “Historically, Trump's policies have been pro-business,…