Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher on Vaccine Optimism

Oil Closes Higher on Vaccine Optimism

M. Ali 11 December, 2020 12:24 am Commodities, Market Update

Oil prices rose on Thursday, supported by a positive investors’ sentiment regarding Coronavirus vaccines.

The global benchmark, Brent crude futures rose above the $50 a barrel mark for the first time since March, adding $1.53, or 3.13%, to settle at $50.39 per barrel.

Meanwhile, the US benchmark West Texas Intermediate (WTI) surged by $1.37, or 3.01%, to finish at $46.88, in its highest closing level since early March.

Tags

Check Also

European Stocks Plunge as U.S.-Iran Hormuz Clashes Shatter Peace Hopes — IAG Slumps on Fuel Cost Warning

Key Takeaways Broad-based decline: The Stoxx 600 slipped 0.77%, Germany’s DAX dropped 0.90%, France’s CAC …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends