Will the U.S. midterm results do anything for oil and gas prices?

The U.S. midterm elections lay the foundations for a dramatic change in Washington, which saw global oil prices fall in response, and that could soon lead to relief at gas pumps. Oil prices fell sharply on Wednesday in the hours after the midterm results revealed a decisive win for the Democrats. Prices did tick back up slightly on Thursday amid heightened tensions in the Middle East region, but oil prices as of publication remain well below where they were before the midterm elections.“Oil prices that had been closer to the highest side since spring are now closer to the lower side of that, and that could provide some meaningful relief,” says Patrick De Haan, head of petroleum analysis at GasBuddy.“Oil markets are just merely speculating on the pressure now that the president is likely going to feel given the fact that Republicans fared very poorly in the midterms.” Story continues below advertisement 8:50 U.S. ‘not getting relief anytime soon,’ Obama says on oil prices after Trump’s ‘bad decisions’ The Democratic Party will take control of both the U.S. House of Representatives and the U.S. Senate starting in January after a massive blue wave that offered a sharp rebuke to U.S. P...