Oil Edges Toward $50 a Barrel On Vaccine Optimism

Friday, December 11th, 2020

Brent hit $50 per barrel on Thursday for the first time since March, edging higher on optimism surrounding vaccinations, the OPEC+ deal, plus strong demand in Asia. However, prices eased a bit on Friday as demand in Europe and the U.S. remains subdued and Covid-19 cases continue to spread. The EIA also reported a surge in crude inventories for last week, up 15.2 million barrels.

Source: https://www.marketwatch.com/story/oil-edges-toward-50-a-barrel-on-vaccine-optimism-11607603852