Singapore/Melbourne — Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting US presidential election but the Republicans look likely to retain Senate control, decreasing the chances of any huge Covid-19 relief package.
US West Texas Intermediate (WTI) crude futures fell 64 US cents, or 1.63%, to $38.51 a barrel at 4.40am GMT, while Brent crude futures dropped 68c, or 1.65%, to $40.55 a barrel. Both contracts had jumped about 4% on Wednesday...
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