Morning Bid: 'Let the oil flow'

Article excerpt

Oil markets are surging on speculation that the incoming Trump administration will pursue deregulation and increased drilling, reversing Biden-era climate policies. West Texas Intermediate crude climbed above $80 a barrel as traders bet on executive orders that could open federal lands to oil exploration and ease environmental restrictions. The energy sector's gains reflect investor confidence that fossil fuel production will accelerate under a pro-business agenda, though climate advocates warn the shift could undermine global emissions-reduction targets.