Oil slumps as vaccine doubts increase – GulfToday

Oil slumps as vaccine doubts increase – GulfToday

Indian shares jump due to gains in precious metals

 Earlier in the week, AstraZeneca announced its COVID-19 vaccine is 70% effective and could amount to 90%. That has helped both benchmarks to jump about 6% this week.

Jeffrey Halley, senior market analyst at OANDA said: "with much of oil's rally in November built on expectation, sentiment and speculative fast money, some sort of correction was long overdue."

OPEC+ are likely to stall January's scheduled increase in oil output.