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Energy stocks fall as inflation fears ease after Democrats win midterms, oil unlikely to hit $100 again soon.

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05 Nov 2026, 00:07 WIB
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Energy stocks fall as inflation fears ease after Democrats win midterms, oil unlikely to hit $100 again soon.

After Democrats swept the midterm elections, investor Joe Terranova said inflation fears have eased, causing energy stocks and oil prices to drop. He believes the war premium on oil, driven by U.S.-Iran tensions, is fading, making a $100 oil price unlikely in the near term. However, risks remain from potential geopolitical events and OPEC+ production policies. Major energy companies Exxon and Chevron, while down recently, still show strong year-to-date gains and maintain dividend payouts, though investors should watch for signs of earnings pressure if oil prices stay lower.

Following the election news, energy stocks on Pluang show notable declines as of Nov 05, 2026 05:21 WIB, with Exxon Mobil down 4.73% to USD 169.06. Chevron also fell 3.87% to USD 216.52, reflecting investor caution despite ongoing geopolitical risks. The Energy Select Sector ETF dropped 4.81%, indicating broader sector weakness in the current market environment.

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