Oil prices rise on expectations of COVID-19 vaccine

Oil prices rose on Tuesday as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand from new lockdowns to contain the virus.
Brent crude futures rose 65 cents to $43.05, while U.S. West Texas Intermediate crude futures gained 68 cents to $40.97.
Both contracts jumped eight per cent on Monday, their biggest daily gains in more than five months, after drugmakers Pfizer and BioNTech said their experimental COVID-19 treatment was more than 90 per cent effective based on initial trial results.

comments powered by Disqus
Most Popular
Former NAJ president Edith Allwood Anderson...
Four persons killed in Havana Heights,...
Agriculture & Fisheries Minister Floyd Green...