The price of oil exceeded $ 44 on news from the United States

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The price of oil exceeded $ 44 on news from the United States

12.11.2020 News

World oil prices of reference brands continue to rise on the news of the victory of the Democratic candidate Joe Biden in the US presidential election and information on the success of tests of the vaccine from COVID-19 of the American company Pfizer Inc. and German BioNTech. This is evidenced by trading data on Wednesday, November 11.

Thus, January futures for Brent on the London Stock Exchange ICE Futures rose by $ 1.09 (2.50%) – to $ 44.70 per barrel. Following the results of trading on Tuesday, these contracts rose by $ 1.21 (2.9%).

The price of futures for WTI in December in an electronic session on the New York Mercantile Exchange (NYMEX) rose by $ 1.05 (2.54%) – to $ 42.41 per barrel.

The spread between the current contracts for the Brent and WTI brands is $ 2.29 in favor of Brent.

Oil prices continue to rise, despite the fact that the incidence of coronavirus continues to rise, both in Europe and in the United States, and new restrictive measures are being introduced.

“The dizzying rise in interest in risk over the past few days is linked to hopes for the future, but not to the current reality, where the coronavirus situation is deteriorating on both sides of the Atlantic,” Bloomberg quoted Vanda Insights founder Vandana Hari.

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