Class CNBC Interview 22/8/22
November 8, 2022
Wall Street in the green bets on the paralysis of the American government at the exit of the polls
November 9, 2022Even if Republicans retake a majority in the House and Senate after today’s election, high gasoline prices that Republican candidates have railed against are unlikely to see any immediate or drastic decline, analysts say. “If the Republicans take over both Houses, then oil prices [and gasoline prices a short time after) may suffer a setback because they will do everything in their power to undo Biden’s cuts on drilling leases, etc,” Peter Cardillo at Spartan Capital tells WSJ. “But I don’t see a collapse in [energy] prices, just a bit more bearishness than what we see now.” Cardillo says US oil prices currently at around $91-a-barrel could perhaps slowly decline toward the lower $80s if Republicans win.
