Oil prices end higher as traders weigh potential Trump policies

Leigha Mongold

5 months ago

Futures Movers

Hurricane Rafael triggers oil-and-gas production shuttering in Gulf of Mexico

Last Updated: Nov. 7, 2024 at 3:22 p.m. ET
First Published: Nov. 7, 2024 at 6:59 a.m. ET

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U.S. oil prices edged up by 0.9% on Thursday. Photo: Agence France-Presse/Getty Images

Oil futures finished higher on Thursday, recouping their losses from a day earlier and then some, as traders continued to tackle uncertainty surrounding incoming U.S. President Donald Trump’s impact on the energy market.

Prices had posted declines Wednesday, when the dollar surged higher in response to Trump’s victory in the presidential election. Production shutdowns in the Gulf of Mexico caused by Hurricane Rafael on Thursday helped to support oil.

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