Oil stabled after the results of the U.S. presidential elections

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Having plunged right after Donald Trump won the U.S. presidential elections, crude oil prices recovered from the shock, almost pared losses, and were even trying to raise back in early trade on Thursday.

Analysts from Oilprice.com remark that the behavior of crude prices immediately after the elections was quite traditional. Prices have always fallen after the results of the vote got clear in the face of the unexpected and unknown future.

The next day, investors and analysts have recovered from the initial shock, and although they are still not sure how oil would react to the Trump uncertainty, they all agree that commodities raised after the immediate plunge.

 “After initially selling off as it became clear Donald Trump would be the next president, commodity prices rallied strongly as the flight to safety unwound,” Reuters quoted ANZ bank as saying on Thursday in a note on Trump’s victory.

The 58-th President’s elections were held in the USA on November, 8. Donald trump won the race with 279 votes against Hillary Clinton’s 228. Trump is to take up office on January 20, 2017.