Oil comes close to a two-week high on re-election results

© Scanpix/FP

Brent type oil for December supply was 26 cents higher to $111.33 a barrel on the ICE Futures Europe exchange on Wednesday. After the announcement of the U.S. re-election results tonight, investors shifted capital to the commodity markets, as the President Barack Obama is a supporter of a loose monetary policy and further money interventions are possible.