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MTECHTIPS:-NYMEX, Brent crude prices mixed as investors eye U.S. presidential vote

Wednesday, November 9, 2016 1:33

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MTECHTIPS:-NYMEX, Brent crude prices mixed as investors eye U.S. presidential vote

MTECHTIPS- U.S. Crude oil prices traded in small gains and losses on Wednesday and Brent gained in Asia as investors awaited U.S. presidential election results and looked further ahead to U.S. industry inventory estimates. Crude oil for December delivery on the New York Mercantile Exchange was quoted down flat at $44.98 a barrel. Brent oil for January delivery on the ICE Futures Exchange in London rose 0.33% to $46.05 a barrel. Market players are also looking ahead to weekly data from the U.S. on stockpiles of crude and refined products. Industry group the American Petroleum Institute is due to release its weekly report at 4:30 PM ET (20:30 GMT) later on Tuesday. Official data from the Energy Information Administration will be released Wednesday. Exit polls and trend results filtered out on Tuesday evening in the U.S., but key battleground states remained too close to call. Results will be declared state by state. If the outcome is clear, the television networks are expected to make their official call at 11:00 PM ET (04:00 GMT Wednesday). Overnight, oil prices were lower during North American hours on Tuesday, as markets were jittery before the results of the U.S. presidential election. Global financial markets were rattled last week by signs the U.S. presidential election race between Democrat candidate Hillary Clinton and Republican nominee Donald Trump was tightening.

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