09-11-2020
Oil prices achieved great gains during trading today, Monday, after news of the success of a vaccine against the emerging corona virus, as US West Texas Intermediate crude rose to $ 41.32 a barrel, an increase of 11.25% over the previous settlement price.
Brent crude increased to $ 43.47 a barrel, up 10.19% from the previous closing price.
Today, Monday, Pfizer and BioNTech announced that the third phase of their vaccine tests for Coronavirus has completed successfully, which boosted optimism in the markets.
The German company BioNTech and its American partner Pfizer expected that the new vaccine would be officially registered before the end of this month, and the two companies also confirmed that the vaccine showed its effectiveness in 90% of cases, without any serious observations regarding the safety of vaccination.