REUTERS/Daniel ColeCommodities from oil and gas to metals and grains dropped on Wednesday as the dollar rallied and victory for Republican Donald Trump in the US presidential election stoked concerns about tariffs and economic growth. Oil prices fell by more than 1% LCOc1, CLc1 on pressure from the US dollar rally, which was set for its biggest one-day rise since March 2023 against major peers. Commodity prices started to fall overnight as traders started to price in the likelihood of a Trump win. Benchmark European gas prices also fell by nearly 3% amid concerns about gas supplies and Trump's stance on the Middle East conflict and Russia-Ukraine war. Shares in European clean energy companies also fell as Trump has vowed to scrap offshore wind projects through an executive order on his first day in office.

Source: bd News24 November 06, 2024 12:52 UTC