Oil prices rise 2% but traders brace for wild ride on US Election Day

Oil prices rose over 2 per cent on Tuesday, advancing with other financial markets on US Election Day although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.

Brent futures rose 84 cents, or 2.2 per cent, to $39.81 a barrel by 1:58 p.m. EST (1858 GMT), while US West Texas Intermediate (WTI) crude rose 89 cents, or 2.4 per cent, to $37.70.

After a rancorous presidential campaign that exposed the depth of the political divisions in the United States, Americans streamed to the polls on Tuesday to