Crude oil prices surged during the mid-morning trade in Asia Nov. 9, shadowing the movement in other risk assets, as uncertainty subsided over the US presidential election result. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10.21 am Singapore time (0221 GMT), ICE Brent January crude futures were up 99 cents/b (2.51%) from the Nov. 6 settle to $40.44/b, while the NYMEX December light sweet crude contract was $1/b (2.69%) higher at $38.14/b. The markers rose 3.98% and 3.77% in the week ended Nov. 6 as indications that the OPEC+ alliance could extend its current production cuts outweighed the uncertainty surrounding the US elections. With Democrat Joe Biden declared winner of the 2020 race to the White House, oil resumed its uptrend. “We are seeing sort of a sunshine effect caused by the provisional Biden victory, which is […]