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Oil prices go back in light of the murky US elections: 05-11-2020

News Date: 5/11/2020 06:35:45
 

 

With the American main elections drawing close to their end, it becomes imminent and likely that candidate "Joe Biden" will replace the US presidency and close to winning the White House.

Oil prices fell this morning, Thursday, after the Republican candidate "Joe Biden's chances of winning the presidency in the United States of America doubled."
As futures contracts for oil fell by 11:30, and futures contracts for Brent crude fell by 1.33% to be traded at $ 40.68 a barrel, while futures contracts for WTI fell by 1.33% to be traded at a price. $ 38.63 per barrel.

On the other hand, gold futures contracts rose, as at 4:25 GMT, they reached a rise of 0.62%, to be traded at a price of $ 1,908 an ounce. In the event that "Joe Biden" is resolved and takes over the presidency, he will work to approve a huge stimulus package to help the economy overcome the consequences of the Corona epidemic, which will reduce the value of the dollar, and thus gold rise to the top.

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