Standard Chartered Wealth: Democrat Congress Control May Push NYMEX Crude Toward $80

Cointime reports: Democrats won control of both the House and Senate in this week’s US midterm elections, according to a Standard Chartered Wealth Solutions Chief Investment Office report dated Nov. 5. On oil, the report said that as supply chains gradually adapt to current conditions and Congress oversees defense spending, NYMEX crude prices may gradually fall toward a 12-month target of $80 a barrel.