WTI crude falls 1.40% to 86.81 after US midterm elections
WTI crude oil stood at 86.81 at 03:40 UTC on November 5, down 1.40% from the previous close of 88.04. Oil and data center stocks fell after the US midterms. Jobless claims data are due later that day.
- 01WTI crude oil last at 86.81, down 1.23 or 1.40% from the previous close of 88.04
- 02Oil and data center stocks fell after the US midterm elections
- 03Initial jobless claims for the week to Oct. 31 are due at 13:30 UTC, with an estimate of 196K against 194K previously
- 04The 4-week average has an estimate of 196K against 196.75K previously
WTI crude oil traded at 86.81 at 03:40 UTC on November 5, down 1.40% from the previous close of 88.04. Oil and data center stocks fell after the US midterm elections.
What happened
The oil price stood down 1.23 from the previous close of 88.04. Oil and data center stocks sank after the midterms. No size for the stock moves and no cause are given.
Why it matters
Oil is trading lower and shares linked to data centers also declined after the vote. The available information does not explain the reasons for either move.
What to watch next
At 13:30 UTC, the US publishes initial jobless claims for the week to Oct. 31, with an estimate of 196K against 194K previously. The 4-week average has an estimate of 196K against 196.75K previously. Continuing claims for the week to Oct. 24 carry an estimate of 1710K against 1701K previously.
Sources:UCapital Markets (ucapital.com)reuters.com
UCapital24 S.p.A. or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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