You are here: Home » International » News » Markets
Business Standard

Oil prices soar about 8% on promising coronavirus vaccine results

By Laila Kearney

Topics
Oil Prices

Reuters  |  NEW YORK 

By Laila Kearney NEW YORK (Reuters) - Oil surged about 8% on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine, boosting risk assets around the globe. Brent crude was up $3.11, or 7.9%, at $42.56 a barrel at 1:35 p.m. EDT (1835 GMT), while U.S. West Texas Intermediate crude rose $3.31, or 8.9%, to $40.45. Both contracts rose more than $4 earlier in the session and traded more than 120% of last session's volumes. "The oil complex is joining in the bullish euphoria of ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, November 10 2020. 01:41 IST
RECOMMENDED FOR YOU
.