Oil jumps after Democrats sweep Congress
NEW YORK, Nov. 6, 2026 (GoldSquawk) - Oil rose sharply after Democrats swept Congress, with Brent up 4.0% at $98.38 a barrel and WTI up 2.9% at $90.65 as investors reassessed what the election result could mean for the broader political backdrop around the Iran war, according to OilPrice.com and Reuters. For traders, the rebound mattered because it followed Wednesday's heavy washout and came before the next official U.S. petroleum report on Nov. 12, leaving politics rather than fresh weekly inventory data at the center of price action, Reuters and the U.S. Energy Information Administration said.