US crude prices were not settled on Thursday due to the holiday, according to “Reuters”.
Both benchmarks rose nearly 6 percent this week after AstraZeneca announced earlier this week that its Covid-19 vaccine could be up to 90 percent effective, adding to the results of successful trials of two other vaccines being developed as part of the war to end the worst. Pandemic in a century.
But questions have been raised about the so-called “vaccine for the world”, as a number of scientists have expressed doubts about the strength of the experimental results.
“Given that much of the oil rally in November was built on expectations, sentiment, and quick speculation that were not based on fundamentals, some correction is long overdue,” said Jeffrey Haley, chief market analyst at Oanda.
Three sources close to OPEC + told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, within the framework of the “OPEC +” group, tend to postpone the planned increase in oil production next year.