Oil futures nearest to delivery on the New York Mercantile Exchange and the Brent contract on the Intercontinental Exchange reversed off 5-month lows to rally into Monday’s close, pushing up values on the first business day of November on strong manufacturing data from around the world that improved sentiment, although concern over lost demand amid another round of coronavirus-caused lockdowns in the European Union and uncertainty surrounding U.S. presidential elections remain a concern.
So far, 94 million people have voted in the U.S. presidential election according to the U.S. Elections Project, 69% of the 136 million total votes during the 2016 election, with the race tightening ahead of election day Tuesday. There’s a great deal of uncertainty about whether a winner will be declared Tuesday night, which is adding to market volatility, especially if the election is disputed.
Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.
