Oil prices fell as Donald Trump secured the presidency. Brent, the global benchmark for crude oil, fell nearly 2% to trade a little over $74 a barrel. West Texas Intermediate, the U.S. equivalent, also dropped.

Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15 percent from last year as low oil prices ate into its revenues. Aramco, formally known as the Saudi Arabian Oil Co.

Oil prices fell about 3% on Wednesday as the U.S. dollar was set for its biggest one-day rise since March 2020 on Donald Trump's re-election as president. Investors believe a Trump presidency will bolster the dollar as interest rates may need to remain high to combat inflation resulting from any new tariffs and policies that may further pressure China's economy,