Oil Prices Drop As Markets Await U.S. Election Result

Oil prices dropped on Thursday morning as a highly contested presidential election continued to be too close to call as of 11 a.m. ET, although Democratic candidate Joe Biden was within six electoral votes to win. As of 11:37 a.m. ET on Thursday, WTI Crude was down 1.53 percent at $38.47, and Brent Crude was trading down 1.50 percent at $40.74, as Biden was in the lead in electoral votes over President Donald Trump. A Trump win would be more bullish for oil, analysts say, because of the President’s continued pro-oil policies. Biden, on the…