- Trump win could pave the way for increased US production
- Stronger dollar also puts some downward pressure on oil prices
Oil futures were slightly lower and trading in a tight range early Nov. 6 following news that former President Donald Trump was elected to a second term.
At 1156 GMT, NYMEX front-month crude was down 97 cents at $71.02/b, while ICE front-month Brent was down 95 cents at $74.58/b.
The Associated Press called the race early Nov. 6, after Trump was projected to take the swing state of Wisconsin.
Trump has promised to strip back regulations, encourage US energy production, and impose tariffs to push manufacturers to locate in the US.
