Oil slips on rising U.S. dollar on bets of no big fiscal package

U.S. oil prices fell in early trade on Thursday as the dollar strengthened on expectations the Republican Party would keep control of the Senate following the U.S. election, holding back any huge COVID-19 relief package. U.S. West Texas Intermediate (WTI) crude <CLc1> futures dropped 29 cents, or 0.7%, to $38.86 a barrel at 0042 GMT. Brent crude <LCOc1> futures had yet to start trading.

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