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10/13, 8:53 AM (Source: TeleTrader)
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Crude rises as coronavirus concerns subside

Prices of oil ticked in the green territory on Tuesday to recover some of yesterday's losses as investors' worries over the coronavirus pandemic and the pace of the recovery from the virus-caused crisis started to diminish.

Director-General of the World Health Organization Dr. Tedros Adhanom Ghebreyesus asserted that a vaccine against COVID-19 could be launched by the end of 2020 or early next year, spreading optimism over containing the pandemic. US President Donald Trump claimed that "vaccines and cures are coming fast," underscoring that the epidemiological situation in the United States is currently better compared to the hardest-hit European countries despite "fake news" media are trying to "make the US look bad."

West Texas Intermediate (WTI) for deliveries in November went up by 0.66% at 2:39 am ET, going for $39.69 per barrel. Three minutes later, Brent for December's settlement gained 0.62% to trade at $41.98 per barrel.

Breaking the News / GA