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In trading on Monday (23), crude oil futures prices closed higher. Although the new corona epidemic continued to spread globally, frequent news of the positive progress of the new corona vaccine provided support.
- WTI crude oil futures for January delivery rose 64 cents, or nearly 1.5%, to close at $ 43.06 a barrel.
- The price of Brent crude futures for January delivery rose $ 1.10, or nearly 2.5%, to settle at $ 46.06 a barrel.
According to Dow Jones market data, WTI crude oil futures hit the highest closing price since August 26, while Brent crude oil reached its highest point since March 5.
Warren Patterson, director of commodity strategy at ING, said: “Although all parts of Europe are closed and the number of new cases of crowns in the United States has exceeded 12 million, the good news about the new vaccine from the corona continue to drive market optimism.
The pharmaceutical company AstraZeneca (AZN-US) announced the results of the study’s phase II / III clinical trial on Monday. The overall efficacy of the AZD1222 “Oxford vaccine” was developed in cooperation with the University of Oxford. The overall efficiency is approximately 70.4%.
More than 24,000 subjects from Brazil and the United Kingdom participated in the Oxford vaccine clinical trials, the curative effect analysis indicated that when subjects were vaccinated with a lower dose of the vaccine, 90% effectiveness would appear. The effectiveness is 62% and the overall effectiveness is approximately 70.4%. It is not yet known where the difference is between high and low doses.
(Low dose: subject will receive half the AZD1222 dose first, then at least one month later, then the full dose of the second dose. High dose: subject will receive the full AZD1222 dose twice, with one month Of diference)
Prior to this, Pfizer and BioNTech, as well as the pharmaceutical manufacturer Moderna, had published upbeat news about similar vaccines.
At the same time, according to the “New York Times” tracking, the United States tallied 141,641 new confirmed cases on Sunday and at least 834 deaths. Last week, an average of 171,461 new people were added each day in the United States, a 54% increase from the average of the previous two weeks, and the number of new cases in all 50 states and regions of the United States. it has shown an upward trend, putting great pressure on hospitals and health care systems.
The COVID-19 pandemic, which is in full swing in several locations, is expected to reduce the number of Thanksgiving activities in the United States on Thursday, thereby reducing holiday-related gasoline demand.
Other energy raw materials
- The price of gasoline futures for December delivery rose 1.2% to close at $ 1.1971 a gallon.
- The price of thermal oil futures for December delivery rose 1.9% to close at $ 1.3158 per gallon.
- The price of natural gas futures for December delivery rose 1.9% to close at US $ 2,823 per million Btu.
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