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Oil Logs another Gain on Vaccine News

M. Ali 17 November, 2020 12:49 am Commodities, Market Update

Oil prices rose on Monday, supported by positive news about a Coronavirus vaccine by Moderna.

Earlier today, Moderna reported that its vaccine candidate has proved about 95% effective in the prevention of contracting the virus.

Brent crude futures for January delivery closed higher by $1.04, or 2.4%, at $43.82 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for December delivery finished higher by $1.21, or 3%, at $41.34 per barrel.

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