Brent Oil Unlikely To Rise Above $43 Until After U.S. Election

The international oil benchmark Brent Crude will likely range-trade in the $40 to $43 a barrel band until after the U.S. election on November 3, according to OCBC Bank. “We continue to expect Brent to trend from $40-$43/bbl, as we head ever closer to the US Presidential elections,” OCBC Bank’s strategists said in their weekly commodity outlook. OPEC’s jawboning sent oil prices spiking last Thursday, with Brent Crude breaking above $43 per barrel, the bank said, noting that three weeks ago, Saudi Arabia’s ‘you…