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Oil gets more expensive, and Brent is at $44.21 a barrel

17.11.2020,11:24


November 17, Fineko/abc.az. Oil prices keep on growing in Tuesday’s trading amid the expectations that the OPEC+ countries will postpone the planned increase in the oil production.

Also, the news about the success of trials of a new Covid-19 vaccine affects the market positively. Moderna Inc announced that the vaccine it had developed has showed efficiency in more than 94.5% within the third phase of testing.

By 9:15 am, at the London ICE Futures Exchange the price of January Brent crude futures rose by $0.39 (0.89%) up to $44.21 per barrel. At the end of trading on 16 November the Brent futures for January grew in price by $1.04 (2.43%) up to $43.82 per barrel.

By 9:15 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for December rose in price by $0.32 (0.77%) to $41.66 per barrel. At the end of trading on 16 November the December WTI futures rose by $1.21 (3.02%) up to $41.34.