Oil prices witnessed a rise, after the American company Moderna announced that its experimental vaccine was effective With a rate of 94.5% in the prevention of Covid-19.
According to Reuters, Brent crude for January delivery rose 1.48 dollars, equivalent to 3.5% to reach $ 44.26 a barrel, while US West Texas Intermediate crude increased $ 1.5, or 3.7%, to record $ 41.63 a barrel.
prices were also supported thanks to figures showing the recovery of the second and third largest economies in the world, China Japan, and data indicating that Chinese refineries processed the largest amount of crude ever on a daily basis in October.
both WTI and Brent rose more than 8% last week amid Hopes for a vaccine for COVID-19 and for the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, to keep production low next year to support prices.
It is reported that Moderna's announcement came after Pfizer said last week that its vaccine was more than effective. 90%, raising hopes that the pandemic's damage to the global economy can be reduced.
