Sat. Jan 16th, 2021

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Oil prices elevate on COVID-19 vaccines

1 min read

Crude oil

Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several countries.

Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check.

Brent crude futures rose 17 cents, or 0.4%, to $45.13 a barrel by 0039 GMT while U.S. West Texas Intermediate crude gained 4 cents, or 0.1%, to $42.46 a barrel. Both benchmarks had increased by 5% last week.

U.S. healthcare workers and others recommended that the nation’s first COVID-19 inoculations could start getting shots within a day or two of regulatory consent next month, a top official of the government’s vaccine development effort said on Sunday.

Dr. Moncef Slaoui, chief scientific adviser for “Operation Warp Speed”, said the U.S. Food and Drug Administration (FDA) would likely grant approval in mid-December for distribution of the vaccine produced by Pfizer Inc and German partner BioNTech Pfizer, launching the largest inoculation campaign in U.S. history.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.