Reuters LONDON – Oil prices jumped more than 4% on Monday, recouping the previous session’s losses after Moderna Inc MRNA.O said its experimental vaccine was 94.5% effective in preventing COVID-19. Brent crude futures for January were up $1.79, or 4.2%, to $44.57 a barrel by 1420 GMT, while U.S. West Texas Intermediate crude for December was up $1.84, or 4.6%, at
Reuters LONDON – Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could be adjusted to balance the market. Brent crude was up $3.37, or 8.5%, to $42.82 a barrel at 1402 GMT,
CNBC Oil jumped more than 5% on Friday, the last trading day of the month, capping off its best month in history as an uptick in demand as well as record supply cuts pushed prices higher. West Texas Intermediate, the U.S. oil benchmark, finished May with a gain of 88%. To put the number in context, WTI’s second best month on
CNBC West Texas Intermediate for June delivery jumped more than 12% on Monday to a two-month high, one day ahead of the contract’s expiration, as production cuts and the easing of stay-at-home restrictions supported prices. “Producers are significantly throttling back output and, with demand increasing, the market is on a slow path towards recovery,” said Rystad Energy’s senior oil markets
CNBC Oil prices jumped more than 20% on Wednesday following a report that showed a smaller-than-expected build in U.S. inventories, as well as on the hope that economies will reopen sooner than expected. West Texas Intermediate for June delivery surged 25%, or $3.08, to trade at $15.41 per barrel, while international benchmark Brent crude traded 9.2% higher at $22.34. Earlier in the session
Reuters Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and Saudi Arabia. Benchmark Brent, which has lost half its value in less than two weeks, got some respite as investors
