Donald Trump has been declared the winner of the US presidential election.
While not all votes have been counted, the Associated Press and major US television networks have concluded that Trump has secured enough votes in the Electoral College to win the presidency.
Trump, the Republican nominee, was declared the victor in Georgia and North Carolina shortly after midnight ET on election night, according to the Associated Press. He also won the key states of Pennsylvania and Wisconsin, several US networks said, pushing him beyond the 270 electoral votes needed to win.
Speaking earlier, Trump said the result was "an unprecedented and powerful mandate".
Front month Ice Brent crude futures traded down today by around $1/bl at $75.50/bl, largely reflecting gains in the US dollar. A strong dollar tends to weigh on prices of commodities by making purchases more expensive for buyers using other currencies.
Trump has promised to pursue a radical shift for the US on policies related to energy, taxes, trade and foreign affairs — reversing many of the policies and legislation that Democrats have put in place under President Joe Biden.
On energy policy, Trump said he wants oil and gas producers to "drill, baby, drill" to bring down domestic energy prices and to dismantle many of the regulations and climate policies put in place by Biden. Trump said he would immediately lift a "pause" on licensing new LNG export terminals and restart oil development in Alaska's Arctic National Wildlife Refuge. Trump wants to impose a 20pc tariff on all foreign imports and even higher tariffs on China.
Republicans also have won control of the US Senate, but the outcome for the House of Representatives is as yet undecided.
