All data is delayed
Loading...
See More

Oil dips on eve of US presidential vote

Nov 06 2012 07:36
AFP

Singapore - Oil prices fell in Asia on Tuesday with trading subdued ahead of knife-edge US presidential elections and the start of a leadership transition in China, analysts said.

New York's main contract, light sweet crude for delivery in December, shed two cents to $85.63 a barrel while Brent North Sea crude for December delivery fell a cent to $107.72.

"Volumes remained low ahead of the presidential elections... and China's change in leadership," IG Markets said in a report.

"Instead of the usual ... flurry, markets were decidedly quiet as no one wanted to take any big bets ahead of the race for the White House."

US voters head to the polls on Tuesday with the race between President Barack Obama and Republican challenger Mitt Romney too tight to call, although Obama holds a slight edge in crucial swing states.

In China, Communist Party politicians were gearing up for a once-in-a-decade leadership change scheduled to take place at a Party congress, which starts on Thursday.

commodities  |  markets  |  oil

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...