Renewables Stocks Soar as Democrats Sweep U.S. Congress
Nigeria's Oil and Gas Output Rises to 3.04 Million Boepd Israel’s inconclusive election leaves Netanyahu… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Renewable energy stocks rallied in Asia and Europe on Wednesday as Tuesday’s mid-term elections in the United States resulted in a sweeping victory for the Democrats, who took control of both the House and Senate.
The “blue wave” of the elections turned into a “blue trade” in equity markets, where renewable energy stocks soared at opening in many Asian and European markets.
Investors are betting that Democrats would favor renewable energy, unlike President Donald Trump, who has been openly hostile to clean energy in both his statements and executive actions since taking office for his second term.
With Democratic control of Congress that could push against the Trump Administration’s anti-renewable policies, stocks of European wind turbine makers and solar equipment manufacturers in South Korea jumped.
“The blue trade is showing up already with money rotating out of the AI buildout and into what a Democratic Congress favors,” Anna Wu, an investment strategist and founder of Floodlines Research, toldBloombergon Wednesday.
Shares in Denmark’sOrsted, the world’s largest offshore wind farm developer, rallied 6% at opening in Copenhagen today, and wind turbine makerVestasjumped 5%.
South Korea’s Hanwha Solutions Corporationsoaredin Seoul by 18%, HD Hyundai Energy Solutions Co Ltdsurged12%, and shares in OCI Holdings Co Ltdrallied10%.
The “blue trade” now favors global clean energy stocks as investors are pulling back from the AI and data center plays amid increased scrutiny over projects and a growing backlash against huge data center buildouts in the United States.
The Democratic sweep of Congress is pressuring down AI stocks and chip makers, amid investor concerns about potentially greater regulation over the advances of artificial intelligence.
The Democratic wins for governors of Texas and Ohio, two states that have expanded data centers in recent years, could mean more regulations on permitting going forward, analysts say.
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Naval Blockade Tightens 6 Million Barrels in Two Minutes Draws CFTC Scrutiny U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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