Oil Rebounds Toward $100 as Democrats’ Sweep Rattles Energy Stocks

Oil prices reversed their recent downtrend on Thursday, a day after Democrats swept control of both the House and Senate, creating a potential legislative check on U.S. President Donald Trump’s administration. Brent crude was up 4.0% to trade at $98.38 per barrel at 3:15 pm ET, while WTI gained 2.9% to $90.65, with prices rising for the first time in four sessions after plunging to a near two-month low on Wednesday. U.S. natural gas prices were flat at $2.95/MMBtu, while European gas prices rebounded 1.9% to €89.72/MWh. The U.S. stock…