Crude Oil Jumped on Inventory Data. GOP's Victory Also Lifted Sentiment

Crude oil rebounded strongly after a report about a pipeline burst in Saudi Arabia. The bullish EIA inventory report also lifted market sentiment. The front-month WTI crude contract jumped to a 2-day high after declining over the past 4 days and closed at 78.68, -1.93%. The Brent crude contract fluctuated within the range 81.53 and 84.45 and ended the day largely flat at 82.95.

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Crude Oil Jumped on Inventory Data. GOP's Victory Also Lifted Sentiment