Oil rallies on hopes of higher demand
Prices set for a sixth consecutive week of gains as Covid-19 vaccination rollouts begin
11 December 2020 - 07:53
Tokyo — Oil rose about 1% on Friday, extending a sharp rally overnight that saw Brent rise above $50 for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.
Brent was up 45c or 0.9%, at $50.70 a barrel by 1.21am GMT, after gaining nearly 3% on Thursday. US oil was up 50c, or 1%, at $47.28 a barrel, having also risen almost 3% in the previous session...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.