“Brent” Barrel jumps by 10% after Covid’s Vaccine News


Oil prices achieved great gains during trading today, Monday, after news of the success of a vaccine against the emerging corona virus, which strengthened the state of optimism in the markets.

By 16:20 Moscow time, US West Texas Intermediate crude futures were trading at $ 41.32 a barrel, an increase of 11.25% over the previous settlement price.

Brent crude futures were trading at $ 43.47 a barrel, up 10.19% from the previous closing price.

And today, Monday, Pfizer and BioNTech announced that the third phase of tests for their Coronavirus vaccine has ended successfully.

The German company BioNTech and its American partner Pfizer expected that the new vaccine would be officially registered before the end of this month, and the two companies also confirmed that the vaccine showed its effectiveness in 90% of cases, without any serious observations regarding the safety of vaccination with it.