WTI crude rises 9.5%, Brent above $42.50

09/11/2020 Argaam

Oil prices extended gains on Monday, with WTI crude rising by 9.5% after positive news about a potential coronavirus vaccine.

 

Pfizer and BioNTech said on Monday, Nov. 9, that the potential COVID-19 vaccine they are developing has been found to be more than 90% effective.

 

In terms of trading, the benchmark Brent crude rose by 8.5% to $ 42.81 a barrel, at 4.05 pm Makkah time.

 

US West Texas Intermediate (WTI) crude futures jumped 9.4% to $40.63 a barrel.

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