BUZZ - Oil and gas stocks dip slightly as the Democratic landslide victory reduces Iran war risk premium

November 4 - ** Due to the retreat in oil prices, the pre-market prices of U.S. oil and natural gas companies slid slightly

** In the midterm elections, the Democratic Party (link) took control of the U.S. Congress from President Trump's Republican Party, weakening the market's risk premium for a further escalation of the current conflict with Iran

** Brent crude oil futures LCOc1 fell 1.7% to $101.87 per barrel; U.S. West Texas Intermediate crude oil futures CLc1 fell 1.2% to $94.96 per barrel O/R

** “It is obvious that with Trump backing away from the threat of immediate strikes on Iran after the U.S. midterm elections, the currently high risk premium has sent oil prices lower,” said Bjarne Schieldrop, Chief Commodities Analyst at SEB Research

** Oil giant ExxonMobil XOM.N fell 1.4%, Chevron CVX.N fell about 1%

** Oil and gas producer ConocoPhillips (COP.N) was down 3%, while Occidental Petroleum (OXY.N) fell 0.9%

** Refiner Marathon Petroleum (MPC.N) fell 0.9%

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