Oil climbs amid US midterm results and Middle East tensions 

Oil prices increased on Wednesday 4 November as investors monitored developments following the US midterm elections, which resulted in Democrats securing majorities in both houses of Congress.

By 07:30 GMT, Brent crude futures were up $0.76, or 0.7%, trading at $104.36 a barrel, reported Reuters.

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Meanwhile, US West Texas Intermediate (WTI) crude futures gained $0.63, or 0.7%, to $96.72, reversing a previous decline.

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