Crude reversed 4% intraday slide Wednesday after shock victory ‘Relentless’ supply growth seen by IEA as non-OPEC recovers The oil market is taking a breather. A day after Donald Trump’s shock U.S. presidential election victory Wednesday whipsawed prices on some of the heaviest trading volumes on record, U.S. futures hovered above $45 a barrel amid a rally in commodities from metals to grains. Crude pared earlier gains after the International Energy Agency said Thursday that prices may retreat amid “relentless global supply growth” unless the Organization of Petroleum Exporting Countries enacts significant output cuts. Traders are weighing the implications of the Republican presiding over a country that consumes more oil than any other and is one of the biggest producers too. Trump has promised independence from OPEC and some of his energy policies include opening federal lands for energy production and freeing up offshore areas to development. While investors […]