7/21, 9:05 AM (Source: TeleTrader)
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Oil trades higher on COVID-19 vaccine hopes

Oil futures traded higher on Tuesday on hopes of a rise in demand amid coronavirus vaccine optimism.

Hopes that a vaccine will soon become available rose after studies showed that several vaccine candidates, including those developed by China's CanSino and Oxford University and AstraZeneca were "safe" and induced an immune response in subjects during trials.

Brent for settlements in September added 0.55% to sell for $43.51 per barrel at 2:54 am ET and West Texas Intermediate (WTI) for September delivery gained 0.46% to go for $41.11 per barrel at the same time.

Breaking the News / NP