NEW YORK (TheStreet) -- Oil prices are slightly higher in early afternoon trading on Tuesday, the day of the U.S. presidential election, despite oil being down for nine of the last 12 sessions.
If Republican candidate Donald Trump wins the election, he has promised to approve the Keystone XL oil pipeline and to reduce regulations, noted GRZ Energy President Anthony Grisanti on the show. These moves would be "bearish for oil in this environment."
If Democratic candidate Hillary Clinton becomes the next president, she "isn't a big fan of fossil fuels," meaning there would be increased regulation and Keystone would not be approved, Grisanti said. Oil prices would probably go higher if she wins.
"If Trump were to win, that would be bad for crude oil, unless the dollar collapses as well" NationShares CIO and fellow guest on the show Scott Nations said in agreement.
But a Clinton victory would mean "business as usual," and we would simply "go back to paying attention to the fundamentals," Nations said. A number of investors believe that Trump represents uncertainty for the markets.