Oil prices slipped today, extending a sell-off triggered by the US presidential election, as a strong dollar and lower crude imports in China outweighed supply risks from a Trump presidency and output cuts caused by Hurricane Rafael.

It seems puzzling at first, but oil stocks were advancing early Wednesday even as crude oil prices were falling. Usually lower oil prices hurt shares of the companies that specialize in selling it, but not this time.

However, Citi stated that "there is a risk that Trump imposes more sanctions on oil-producing countries like Venezuela and Iran, which could have bullish effects on oil prices."