Risk-on wave boosts oil as traders react to Biden win
Brent tops $40 after Joe Biden’s victory whets investors’ risk appetite
09 November 2020 - 12:40
London — Oil prices rose on Monday, with Brent topping $40 a barrel, after Joe Biden clinched the US presidency and buoyed risk appetite, offsetting the worry about the effect on demand from the worsening coronavirus pandemic.
Brent crude had climbed 91c, or 2.3%, to $40.36 a barrel by 9.46am GMT, while US West Texas Intermediate (WTI) crude was at $38.04, up 90c, or 2.4%...
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