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Photo: oil production (freepik.com)
Oil fell in price on Wednesday, November 4, after statements by US President Donald Trump about winning the elections. A decrease in the prices of WTI and Brent crude oil is observed.
Reported by Reuters.
Thus, WTI crude oil futures fell 15 cents (0.4%) and now stand at $ 37.51 per barrel. Brent crude oil fell 8 cents (0.2%) to $ 39.63 a barrel.
Let us remind you that the presidential elections in the United States ended yesterday. Following the completion of the vote, incumbent President Donald Trump declared victory, even though the counting process is still underway.
Keep in mind that last week oil prices fell to their lowest level since mid-June. Then, oil fell 10% amid the second wave of the coronavirus pandemic.
Earlier, RBC-Ukraine wrote that in October the World Bank raised its oil price forecast to $ 41 a barrel in 2020 and $ 44 in 2021.
The US economy was also reported to show unprecedented growth in the third quarter of 2020, as the government allocated more than $ 3 trillion in pandemic aid, boosting consumer spending. Gross domestic product grew 33.1% year-on-year.
