⁍ Oil prices rose more than 2% on Tuesday, supported by expected supply disruptions from a hurricane approaching the Gulf of Mexico and an oil worker strike in Norway.

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⁍ The market slipped in post-settlement trading, however, after U.S. President Donald Trump said he was instructing his administration not to negotiate a stimulus package until after the Nov. 3 election.

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– Oil prices rose more than 2% on Tuesday, supported by expected supply disruptions from a hurricane approaching the Gulf of Mexico and an oil worker strike in Norway, Reuters reports. The market slipped in post-settlement trading, however, after US President Trump said he was instructing his administration not to negotiate a stimulus package until after the Nov. 3 election. Brent crude futures LCOc1 settled at $42.65 a barrel, up $1.36 a barrel, or 3.2%. US West Texas Intermediate (WTI) crude settled at $40.67 a barrel, rising $1.45, or 3.7%. In post-close trading, however, Brent fell to $42.19 while US crude dropped to $40.13 a barrel. Trump returned to the White House following three days in the hospital for treatment for COVID-19. US House Speaker Nancy Pelosi and US Treasury Secretary Steven Mnuchin had been in negotiations for an additional $1.5 trillion to $2 trillion in economic stimulus before Trump’s tweet. “It looked like something was going to materialize, and now it has been blown up so everything is selling off,” said John Kilduff, partner at Again Capital LLC in New York. “The petroleum complex needed that stimulus to help stoke demand once again, and we’re obviously not getting it.”