Oil Rebounds Toward $100 as Democratic Sweep Raises Policy Uncertainty

Brent crude jumped 4% to $98.38 and WTI rose 2.9% to $90.65 on Thursday, reversing a four-session decline, after Democrats won control of both chambers of Congress. The market is pricing in potential legislative checks on the Trump administration, likely affecting energy policy and supply expectations. The rebound follows a plunge to a near two-month low on Wednesday, with the move driven by political rather than physical supply factors.

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