*Oil Rises After Trump Falsely Claims Victory in Tight U.S. Election*
Oil is up over % on Wednesday at 1440GMT as Trump has claimed victory in the election, with the polls suggesting that the result will go down to the wire with millions of votes still left to be counted. A trump victory has always provided a bullish sentiment for oil as Iran sanctions will remain and support for OPEC+ cuts. (Reuters)
*U.S. Crude Stocks Drop Sharply in Latest Week: API*
The API report that came out late on Tuesday evening reported a very heavy crude draw of 8 million barrels, after analysts had predicted a build of just under a million barrels. On the reverse, gasoline reported a 2.5-million-barrel rise, after Reuters polls predicted a draw of 871,000 barrels. (Reuters)
*Singapore Bunkers Steady Amid US Election Uncertainty*
Most bunker market participants have been undeterred by the US election and it has been business as usual in the Singapore bunker markets, such as shipowners, traders, and suppliers. The steadiness is set to continue over the next few days according to reports from a broker in the Argus report. There were some large swings in oil through the afternoon on Brent. (Argus Media)