Oil erases yesterday's losses, climbs 1%

Friday, 27. November 2020 13:58

Crude futures gained 1% on Friday, recovering from slight losses seen the previous day, as traders focused on optimistic news coming from the vaccine front.

United States President Donald Trump promised the day before that vaccine distribution in the US could start as early as next week, while Russian medical authorities announced that mass vaccination in the country could occur in early 2021.

WTI for deliveries in January gained 0.96% at 7:44 am ET, selling for $45.36 per barrel, while Brent for the same month's settlement advanced by 0.75% to go for $48.16 per barrel at the same time.

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Breaking the News / BU