Crude oil in the global market rose close to 3 percent in trading Tuesday (11/06/2012) as strengthening Wall Street as investors awaited the results of the U.S. presidential election.
U.S. indices rose as some investors bet by predicting Obama's Republican challenger, Mitt Romney will win the election. This encourages the energy sector strengthened.
But the market does not care analysts assert presidential winner. But it is clear the results will end the uncertainty the next U.S. leader.
U.S. crude rose U.S. $ 3.06 to U.S. $ 88.71 per barrel for December delivery. Meanwhile, Brent crude rose U.S. $ 3.3 to U.S. $ 111.07 per barrel in London.
U.S. stocks closed higher on Wednesday (07/11/2012) before the election results pushed investors looked forward to a resolution to the White House. Dow Jones up 1.02% to as low as 13245.52. The S & P rose 11.09 points, or 0.79%, at 1428.35. The Nasdaq Composite Index was up 12.27 points, or 0.41%, at 3011.93.
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