Brent Crude Hits Highest Price Since March In Ongoing Rebound

Brent Crude Hits Highest Price Since March in Ongoing Rebound

MOSCOW (UrduPoint News / Sputnik - 24th November, 2020) Global oil prices continued to rebound on Tuesday, with Brent crude trading at the highest level since March, gaining over 1 percent since Tuesday morning.

Crude has rallied throughout November amid positive COVID-19 vaccine news from various countries.

On Monday, UK-based AstraZeneca announced that its vaccine was up to 90 percent effective. Earlier this month, Moderna, Pfizer and BioNTech reported on successful preliminary results of their vaccines' trials.

February futures traded at almost $46.50 per barrel, an increase of around 1 percent from the day before, while January futures rose some 0.8 percent to $46.44 and December WTI futures grew 1.14 percent to $43.53.