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Commodity News |
HeadLine : |
Oil steady as vaccine news counters rise in virus cases |
Date : |
Jul 21 2020 |
Prices were offered some support by positive news on the development of vaccines as drugmakers and medical institutions rush to find a way to counter the world’s worst health crisis in a century. Brent futures were up 15 cents, or 0.4%, at $43.43, while West Texas Intermediate (WTI) edged up 2 cents to $40.83. The closing prices of both Brent and WTI have traded within a $2 channel so far this month. In China, some cinemas reopened on Monday after a six-month closure, raising hope a recovery from the pandemic is holding in the world’s second-largest economy, where the outbreak first started. More than 14.6 million people have been reported to be infected by the novel coronavirus globally and 606,979? have died, according to a Reuters tally. Early data from trials of COVID-19 vaccines released on Monday, raised confidence that a vaccine may be created although any breakthrough will take time to reach the billions of people needed.
Source : Reuters
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