[MARKET ANALYSIS] Oil prices and copper declined as risk assets are hit on increased prospects of a Democrat sweep
ORIGINAL · Newsquawk[MARKET ANALYSIS] Oil prices and copper declined as risk assets are hit on increased prospects of a Democrat sweepRead originalHide original
WTI/Brent: WTI Dec'26 -0.7% / Brent Jan'27 -0.4% Oil prices are on the backfoot with downside seen after FT reported that US President Trump said that they have no immediate plan to strike Iran and stated they are locked and loaded if they need to go, but added there may be no reason for it, while the downside also coincided with strong early results from the Democrats in the Midterm Elections. Gold: +0.2% Saw a haven bid amid a weaker dollar and the risk-off tone, but is well off today's best levels. Copper: -1.0% Declined as risk assets were pressured on increased prospects of a Democrat sweep.
The report described declines in oil and copper, a small gold gain, and linked market moves to Iran-related comments, risk aversion, and rising expectations of Democratic gains.
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WTI/Brent: WTI Dec'26 -0.7% / Brent Jan'27 -0.4% Oil prices are on the backfoot with downside seen after FT reported that US President Trump said that they have no immediate plan to strike Iran and stated they are locked and loaded if they need to go, but added there may be no reason for it, while the downside also coincided with strong early results from the Democrats in the Midterm Elections. Gold: +0.2% Saw a haven bid amid a weaker dollar and the risk-off tone, but is well off today's best levels. Copper: -1.0% Declined as risk assets were pressured on increased prospects of a Democrat sweep.
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