Oil prices last month went up by eight percent, recording an all-time high in more than six months following Covid-19 vaccine reports.
Event Location
Kuwait , Kuwait
Start Time
06 December 2020, 12:00 AM
End Time
31 December 2020, 12:00 AM
Oil futures settled sharply higher on the back of improved demand outlooks following reports of a breakthrough in COVID-19 vaccine research.
Brent crude oil price went up by USD 3.11 or 7.9 percent to USD 42.56 per barrel, while American benchmark West Texas Intermediate was surged by USD 3.15 or 8.5 percent to USD 40.29.
Pfizer announced earlier that its coronavirus vaccine has shown to be “more than 90 percent effective in preventing COVID-19.”
Pfizer said in a statement: “Vaccine candidate was found to be more than 90 percent effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis,”
Kuwait business news 2020Kuwait Oil prices 8 percent
