Oil jumps on Corona virus vaccine hopes

Oil jumps on Corona virus vaccine hopes
2020-11-09T14:23:01+00:00

Shafaq news/ Oil jumped on Monday for its biggest daily gain in almost six months after news of a highly effective Pfizer vaccine against COVID-19.

Brent crude futures raised $ 4 to $ 43.45 a barrel.

“Asset prices move faster than the real economy, and oil and other risk assets are reacting positively today to the Pfizer vaccine news,” said BNP Paribas analyst Harry Tchilinguirian.

Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19, based on initial data from a large study.

Meanwhile, worldwide infections surpassed 50 million, with more than 1.2 million deaths since the beginning of the pandemic.

 


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