Oil jumps to its highest since March
- Date: 25-Nov-2020
- Source: Gulf Today
- Sector:Oil & Gas
- Country:user-top-picks
Oil jumps to its highest since March
Picture used for illustrative purpose. File
Gulf Today Report
Oil gained on Tuesday to $47 a barrel as a third company announced its coronavirus vaccine, its biggest gain since March.
Brent crude rose 31 cents, or 0.7%, to $46.37 a barrel by 0914 GMT and hit a session high of $46.72, its highest since March 6. US West Texas Intermediate crude gained 32 cents, or 0.7%, to $43.38.
On Monday, AstraZeneca in collaboration with the University of Oxford announced a 70% effective COVID-19 shot in trials and it could go up to 90%.
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