Trump victory will "move the oil prices" says UAE minister

Trump scored a series of surprising wins in battleground US states including Florida and Ohio on Tuesday.

  
United Arab Emirates' Oil Minister Suhail Mohamed Al Mazrouei (C) arrives at a meeting of Gulf Arab oil ministers in Riyadh September 24, 2013. REUTERS

United Arab Emirates' Oil Minister Suhail Mohamed Al Mazrouei (C) arrives at a meeting of Gulf Arab oil ministers in Riyadh September 24, 2013. REUTERS

REUTERS/FAISAL NASSER
09 November 2016

A victory by Republican candidate Donald Trump in the United States presidential election will “move the oil prices more than any statement by anyone”, a senior Arab energy minister said on Wednesday.

"The election of Trump will move the oil prices more than any statement by anyone," United Arab Emirates Energy Minister, Suhail Al Mazrouei, told reporters in a media roundtable in Abu Dhabi on Wednesday.

"That is the nature of this market it is sensitive for information," he added.

His comments come as Trump scored a series of surprising wins in battleground US states including Florida and Ohio on Tuesday, opening a path to the White House for the political outsider and rattling world markets counting on a win by Democrat Hillary Clinton. Read more here.

With investors worried a Trump victory could cause economic and global uncertainty, the U.S. dollar sank and stock markets slammed into reverse in wild Asian trading. Opinion polls before Election Day had given Clinton a slim lead. Read more markets news here.

For full coverage of the US Presidential Election follow our Zawya Special Coverage here.

(Reporting by Yasmine Saleh; Editing by Shane McGinley)

© Zawya 2016

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